Goodwill and Intangibles Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangibles Assets

Goodwill and Intangibles

11. Goodwill and intangible assets

	March 31, 2023			December 31, 2022
Opening gross goodwill		584,745,143			607,413,242
Measurement period adjustment		-			(22,633,099	)
Disposals		(24,351,801	)		(35,000	)
		560,393,342			584,745,143
Opening accumulated impairment		(584,745,143	)		(563,361,597	)
Impairment		-			(21,418,546	)
Disposals		24,351,801			35,000
		(560,393,342	)		(584,745,143	)
Goodwill, net	$	-		$	-

	March 31, 2023			December 31, 2022
Intangible assets gross carrying amounts (i)
License		82,563,527			82,563,527
Brand		50,400,559			50,400,559
Customer relations		2,920,000			2,920,000
		135,884,086			135,884,086
Intangible assets accumulated amortization
License		(27,759,334	)		(26,654,299	)
Brand		(9,854,207	)		(9,218,821	)
Customer relations		(713,979	)		(632,868	)
		(38,327,520	)		(36,505,988	)
Intangible assets, net	$	97,556,566		$	99,378,098

The Company recorded amortization expense related to the three months ended March 31, 2023 of $ 1,821,531 (March 31, 2022 - $5,029,654 related to continuing operations).

The following table outlines the estimated future annual amortization expense as of March 31, 2023:

	Estimated Amortization
Remainder of 2023	$	(5,436,351	)
2024		(7,191,983	)
2025		(7,191,983	)
2026		(7,191,983	)
2027		(7,174,094	)
Thereafter		(63,370,172	)
	$	(97,556,566	)