Annual report pursuant to Section 13 and 15(d)

NOTE 5 - INTANGIBLE ASSETS (Tables)

v3.8.0.1
NOTE 5 - INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets [Table Text Block]
The components of intangible assets are as follows:

 
 
December 31, 2017
   
December 31, 2016
   
Estimated Useful Lives
 
Proprietary developed software
 
$
1,192,109
   
$
677,829
   
5 – 7
 
Intellectual property, customer list, and acquired contracts
   
3,129,551
     
3,069,551
   
5 – 15
 
Total intangible assets
 
$
4,321,660
   
$
3,747,380
       
Less: accumulated amortization
   
(1,681,203
)
   
(1,316,269
)
     
 
 
$
2,640,457
   
$
2,431,111
       
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
The Company expects future amortization expense to be the following:

 
 
Amortization
 
 
     
2018
 
$
387,001
 
2019
   
387,001
 
2020
   
369,010
 
2021
   
332,460
 
2022
   
265,759
 
thereafter
   
899,226
 
Total
 
$
2,640,457