|6 Months Ended|
Jun. 30, 2021
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Goodwill and Intangible Assets Disclosure [Text Block]||
NOTE 5 – INTANGIBLE ASSETS
Intangible assets consist of proprietary developed software, intellectual property, customer lists and acquired contracts carried at cost less accumulated amortization and customer lists acquired at fair value less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives.
The components of intangible assets are as follows:
Amortization expense related to the above intangible assets for the three and six months ended June 30, 2021 was $131,502 and $251,739, respectively, as compared to $91,974 and $183,946 for the three and six months ended June 30, 2020.
The Company expects future amortization expense to be the following:
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef