Annual report pursuant to Section 13 and 15(d)

NOTE 5 - GOODWILL AND INTANGIBLE ASSETS (Tables)

v3.19.1
NOTE 5 - GOODWILL AND INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
The following table sets forth activity in goodwill. See Note 9 for details of acquisitions that occurred during the year ended December 31, 2018.

Goodwill balance at December 31, 2017

  $ 401,000  

Acquisition of ISM

    398,000  

Acquisition of Nellnube

    86,000  

Goodwill balance at December 31, 2018

  $ 885,000  
Schedule of Finite-Lived Intangible Assets [Table Text Block]
The components of intangible assets are as follows:

   

December 31, 2018

   

December 31, 2017

   

Estimated Useful Lives

 

Proprietary developed software

  $ 1,809,651     $ 1,192,109       5 – 7  

Intellectual property, customer list, and acquired contracts

    4,202,014       3,129,551       5 – 15  

Total intangible assets

  $ 6,011,665     $ 4,321,660          

Less: accumulated amortization

    (2,058,003

)

    (1,681,203

)

       
    $ 3,953,662     $ 2,640,457          
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
The Company expects future amortization expense to be the following:

 

 

Amortization

 

 

 

 

 

 

2019

 

$

546,720

 

2020

 

 

528,728

 

2021

 

 

492,178

 

2022

 

 

425,476

 

2023

 

 

362,363

 

thereafter

 

 

1,598,197

 

Total

 

$

3,953,662