Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS (Tables)

v3.22.1
INTANGIBLE ASSETS (Tables)
3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets [Table Text Block]

The components of intangible assets are as follows:

 

   

March 31, 2022

   

December 31, 2021

   

Estimated

Useful Lives

 

Proprietary developed software

  $ 390,082     $ 390,082     5 –7  

Intellectual property, customer list, and acquired contracts

    7,871,283       6,237,612     5 –15  

Total intangible assets

    8,261,365       6,627,694        

Less: accumulated amortization

    (3,325,917

)

    (3,135,460

)

     
    $ 4,935,448     $ 3,492,234        

 

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 2022

  $ 543,480  

2023

    672,890  

2024

    672,890  

2025

    666,033  

2026

    651,451  

2027

    637,802  

Thereafter

    1,090,902  
         

Total

  $ 4,935,448