| Intangible Assets, Net |
Note 5. Intangible Assets, Net
Intangible assets, net consisted of the following at the dates indicated:
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March 31, 2021
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Gross
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Carrying
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Accumulated
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Net Carrying
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Amount
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Amortization
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Value
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(Unaudited)
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Trade names
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$
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166,000
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$
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(5,533)
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$
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160,467
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Software development
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3,829,812
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(244,583)
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3,585,229
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Agent relationships
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1,180,000
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—
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1,180,000
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$
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5,175,812
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$
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(250,116)
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$
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4,925,696
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December 31, 2020
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Gross
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Carrying
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Accumulated
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Net Carrying
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Amount
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Amortization
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Value
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Trade names
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$
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166,000
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$
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(1,383)
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$
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164,617
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Software development
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921,248
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(163,718)
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757,530
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$
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1,087,248
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$
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(165,101)
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$
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922,147
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As of March 31, 2021, the estimated future amortization expense for definite-lived intangible assets was:
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Years Ended December 31,
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2021 (remaining)
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$
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600,065
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2022
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800,086
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2023
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800,086
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2024
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787,586
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2025
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619,701
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Thereafter
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1,318,172
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Total
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$
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4,925,696
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Amortization expense was approximately $85,000 and $11,000 for the three months ended March 31, 2021 and 2020 respectively.
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