Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
6. GOODWILL AND INTANGIBLE ASSETS

 

Goodwill: The changes in goodwill are as follows:

 

    September 30,
2020		     December 31,
2019		  
Balance, beginning of period   $ 17,798,932     $ 8,752,909  
Goodwill additions     4,126,152       9,046,023  
Impairments     -       -  
Balance, end of period   $ 21,925,084     $ 17,798,932  

 

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

 

    September 30,
2020		     December 31,
2019		  
    Gross
Carrying
Amount		     Accumulated
Amortization		     Gross
Carrying
Amount		     Accumulated
Amortization		  
Other intangibles, patents and trademarks   $ 100,000     $ -     $ 100,000     $ -  
Capitalized software     931,610       167,392       135,030       1,750  
    $ 1,031,610     $ 167,392     $ 235,030     $ 1,750  

 

Amortization expense for the three months ended September 30, 2020 and 2019 was $44,097 and $0, respectively.

 

Amortization expense for the nine months ended September 30, 2020 and 2019 was $165,617 and $0, respectively.