Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS (Tables)

v3.21.2
INTANGIBLE ASSETS (Tables)
9 Months Ended
Sep. 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:

 

   

September 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

    (2,992,382

)

    (2,604,358

)

     
    $ 3,563,953     $ 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

 

$

136,282

 

2022

   

492,427

 

2023

   

429,314

 

2024

   

429,314

 

2025

   

422,457

 

2026

   

407,875

 

Thereafter

   

1,246,284

 
         

Total

 

$

3,563,953