Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

v3.21.2
GOODWILL AND OTHER INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill. A goodwill balance of $1,091,000 was created as a result of a transaction completed in October 2011 with Prime Table Games, LLC (“PTG”).

Other intangible assets, net. Other intangible assets, net consisted of the following at:

 

 

 

June 30,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Patents

 

$

13,507,997

 

 

$

13,507,997

 

Customer relationships

 

 

13,942,115

 

 

 

13,942,115

 

Trademarks

 

 

2,880,967

 

 

 

2,880,967

 

Non-compete agreements

 

 

660,000

 

 

 

660,000

 

Software

 

 

233,314

 

 

 

183,415

 

Other intangible assets, gross

 

 

31,224,393

 

 

 

31,174,494

 

Less: accumulated amortization

 

 

(16,390,099

)

 

 

(15,087,598

)

Other intangible assets, net

 

$

14,834,294

 

 

$

16,086,896

 

 

For the three months ended June 30, 2021 and 2020, amortization expense related to other intangible assets was $653,330 and $373,919, respectively. For the six months ended June 30, 2021 and 2020, amortization expense related to assets deployed at client locations was $1,302,502 and $756,418, respectively.

Estimated future amortization expense is as follows:

 

Twelve Months Ending June 30,

 

Total

 

2022

 

$

2,606,277

 

2023

 

 

1,735,114

 

2024

 

 

1,442,751

 

2025

 

 

1,424,276

 

2026

 

 

1,424,276

 

Thereafter

 

 

6,201,600

 

Total amortization

 

$

14,834,294