Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

v3.22.1
INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2021
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, 2021

   

December 31, 2020

   

Estimated Useful Lives

 

Proprietary developed software

  $ 390,082     $ 390,082     5 –7  

Intellectual property, customer list, and acquired contracts

    6,237,612       5,340,612     5 –15  

Total intangible assets

  $ 6,627,694     $ 5,730,694        

Less: accumulated amortization

    (3,135,460

)

    (2,604,358

)

     
    $ 3,492,234     $ 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

 
         

2022

  $ 502,621  

2023

    439,524  

2024

    439,492  

2025

    432,651  

2026

    418,069  

thereafter

    1,259,877  

Total

  $ 3,492,234