Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.20.1
Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets [Abstract]  
GOODWILL AND INTANGIBLE ASSETS

6. GOODWILL AND INTANGIBLE ASSETS

 

Goodwill: The changes in goodwill are as follows:

 

    March 31,
2020
    December 31,
2019
 
Balance, beginning of year   $ 17,798,932     $ 8,752,909  
Goodwill additions     1,851,438       9,046,023  
Impairments     -       -  
Balance, end of year   $ 19,650,370     $ 17,798,932  

 

Intangible assets on the Company's consolidated balance sheets consist of the following:

 

    March 31, 2020     December 31, 2019  
    Gross Carrying Amount     Accumulated Amortization     Gross Carrying Amount     Accumulated Amortization  
Patents and trademarks   $ 100,000     $ -     $ 100,000     $ -  
Capitalized software     494,265       29,594       135,030       1,750  
    $ 594,265     $ 29,594     $ 235,030     $ 1,750  

 

Amortization expense for the three months ended March 31, 2020 and 2019 was $27,818 and $0, respectively.