Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.20.2
Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets [Abstract]  
GOODWILL AND INTANGIBLE ASSETS

6. GOODWILL AND INTANGIBLE ASSETS

 

Goodwill: The changes in goodwill are as follows:

 

    June 30,
2020		     December 31,
2019		  
Balance, beginning of period   $ 17,798,932     $ 8,752,909  
Goodwill additions     3,286,152       9,046,023  
Impairments     -       -  
Balance, end of period   $ 21,085,084     $ 17,798,932  

 

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

 

    June 30,
2020		     December 31,
2019		  
    Gross
Carrying
Amount		     Accumulated
Amortization		     Gross
Carrying
Amount		     Accumulated
Amortization		  
Other Intangibles   $ 100,000     $ -     $ 100,000     $ -  
Capitalized software     843,802       123,295       135,030       1,750  
    $ 943,802     $ 123,295     $ 235,030     $ 1,750  

 

Amortization expense for the three months ended June 30, 2020 and 2019 was $93,702 and $0, respectively.

 

Amortization expense for the six months ended June 30, 2020 and 2019 was $121,520 and $0, respectively.