Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

v3.23.3
GOODWILL AND OTHER INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 4. 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:

 

 

September 30,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Patents

 

$

13,507,799

 

 

$

13,507,997

 

Customer relationships

 

 

14,040,856

 

 

 

14,040,856

 

Trademarks

 

 

2,880,967

 

 

 

2,880,967

 

Intellectual property

 

 

2,000,000

 

 

 

2,000,000

 

Non-compete agreements

 

 

660,000

 

 

 

660,000

 

Software

 

 

1,524,401

 

 

 

968,362

 

Other intangible assets, gross

 

 

34,614,023

 

 

 

34,058,182

 

Less: accumulated amortization

 

 

(21,509,203

)

 

 

(20,152,071

)

Other intangible assets, net

 

$

13,104,821

 

 

$

13,906,111

 

For the three and nine months ended September 30, 2023 and 2022, amortization expense related to other intangible assets was $472,247 and $667,913, and $1,357,132 and $1,976,301, respectively.