Goodwill

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Note 5 – Goodwill

Goodwill as of December 31, 2023 and 2022 consisted of the following:

	Affiliate Marketing Services -- International			Total
Balance as of December 31, 2021		3,130,167			3,130,167
Less: Impairment charges		(1,515,000	)		(1,515,000	)
Balance as of December 31, 2022		1,615,167			1,615,167
Less: Impairment charges	$	(1,615,167	)	$	(1,615,167	)
Balance as of December 31, 2023	$	-		$	-

For the year ending December 31, 2023, the Company recorded goodwill impairment of $1,615,167, which was due to the loss of future revenue by the exit of Affiliate Marketing International’s largest customer from the European market in the fourth quarter of 2023. The extent of impairment was determined based upon the projected performance of the reporting unit, as determined using an income approach valuation methodology. Key assumptions included in the determination of the reporting unit’s fair value included revenue growth, operating margin, long-term growth rate and discount rate. There is inherent uncertainty included in the assumptions used in goodwill impairment testing.