Note 6 - Intangible Assets

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6. Intangible Assets

Information regarding our intangible assets is as follows:

	Weighted Average Useful Life (Years)		Balance December 31, 2023			Additions			Balance March 31, 2024
Intangible assets with estimated useful lives
Customer relationships		8.0	$	1,090,000		$	-		$	1,090,000
Non-compete agreements		3.0		120,000			-			120,000
Accumulated amortization				(484,461	)		(44,061	)		(528,522	)
Sub-total				725,539			(44,061	)		681,478
Intangible assets with indefinite lives
Trade names		Indefinite		280,000			-			280,000
Net identifiable intangible assets			$	1,005,539		$	(44,061	)	$	961,478

	Weighted Average Useful Life (Years)		Balance December 31, 2022			Additions			Balance March 31, 2023
Intangible assets with estimated useful lives
Customer relationships		8.0	$	1,090,000		$	-		$	1,090,000
Non-compete agreements		3.0		120,000			-			120,000
Accumulated amortization				(308,217	)		(44,061	)		(352,278	)
Sub-total				901,783			(44,061	)		857,722
Intangible assets with indefinite lives
Trade names		Indefinite		280,000			-			280,000
Net identifiable intangible assets			$	1,181,783		$	(44,061	)	$	1,137,722

As of March 31, 2024, expected amortization expense relating to purchased intangible assets for each of the next five years and thereafter is as follows:

Remainder of 2024	$	102,246
2025		136,248
2026		136,248
2027		136,248
2028		136,248
Thereafter		34,240
Total	$	681,478

WaveDancer, Inc.  Form 10-Q March 31, 2024