v3.23.1
GOODWILL AND INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2022
GOODWILL AND INTANGIBLE ASSETS  
Summary of future amortization expense

Year Ending December 31,

    

2023

 

3,496,577

2024

 

2,688,886

2025

 

1,666,160

$

7,851,623

Summary of goodwill by entity

    

Bailey

    

Harper & Jones

    

Stateside

    

Sundry

    

Total

Balances at December 31, 2020

$

6,479,218

$

$

$

$

6,479,218

Business combinations

 

 

9,681,548

 

2,104,056

 

 

11,785,604

Impairment

 

 

 

 

 

Balances at December 31, 2021

 

6,479,218

 

9,681,548

 

2,104,056

 

 

18,264,822

Business combination

 

 

 

 

3,711,322

 

3,711,322

Impairment

 

(3,321,095)

 

(8,551,237)

 

 

 

(11,872,332)

Balances at December 31, 2022

$

3,158,123

$

1,130,311

$

2,104,056

$

3,711,322

$

10,103,812

Summary of information relating to the Company's identifiable intangible assets

    

Gross

    

Accumulated

    

Carrying

December 31, 2022

Amount

Amortization

Value

Amortized:

 

  

Customer relationships

$

11,452,230

 

(3,600,607)

$

7,851,623

 

11,452,230

 

(3,600,607)

 

7,851,623

Indefinite-lived:

Brand name

$

6,575,880

 

 

6,575,880

$

18,028,110

$

(3,600,607)

$

14,427,503

    

Gross

    

Accumulated

    

Carrying

December 31, 2021

Amount

Amortization

Value

Amortized:

 

  

 

  

 

  

Customer relationships

$

6,453,750

(1,449,357)

$

5,004,393

 

6,453,750

 

(1,449,357)

 

5,004,393

Indefinite-lived:

 

  

 

  

 

  

Brand name

$

7,836,920

 

 

7,836,920

$

14,290,670

$

(1,449,357)

$

12,841,313