Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS (Tables)

v3.21.2
INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets [Table Text Block]

The components of intangible assets are as follows:

 

   

June 30, 2021

   

December 31, 2020

   

Estimated

Useful Lives

 

Proprietary developed software

  $ 390,082     $ 390,082     5 –7  

Intellectual property, customer list, and acquired contracts

    6,166,253       5,340,612     5 –15  

Total intangible assets

  $ 6,556,335     $ 5,730,694        

Less: accumulated amortization

    (2,856,097

)

    (2,604,358

)

     
    $ 3,700,238     $ 3,126,336        

 

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The Company expects future amortization expense to be the following:

 

   

Amortization

 

Remainder of 2021

  $ 276,142  

2022

    492,427  

2023

    429,314  

2024

    429,314  

2025

    422,457  

2026

    407,875  

Thereafter

    1,242,709  
         

Total

  $ 3,700,238