Quarterly report pursuant to Section 13 or 15(d)

Intangibles (Tables)

v3.21.2
Intangibles (Tables)
6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangibles consisted of the following:

 

                Estimated Useful
Type   June 30, 2021     December 31, 2020     Lives (Years)
                 
Proprietary Software   $ 4,286,402     $ 4,286,402     7
Tradenames/trademarks     617,474       617,474     15
ECS membership agreement     465,000       465,000     1
Noncompetition agreement     201,389       201,389     2
Customer Relationships     183,255       183,255     5
      5,753,520       5,753,520      
Less: accumulated amortization     (1,993,282 )     (1,627,778 )    
Intangibles - net   $ 3,760,238     $ 4,125,742      

Scheduled of Estimated Amortization Expense

Estimated amortization expense for each of the five (5) succeeding years and thereafter is as follows:

 

For the Year Ended December 31, 2021      
       
2021 (6 months)   $ 326,754  
2022   $ 653,508  
2023   $ 653,508  
2024   $ 653,508  
2025   $ 653,508  
Thereafter     819,452  
Total   $ 3,760,238