| Goodwill and Intangible Assets |
Note 4 - Goodwill and Intangible Assets
Goodwill and intangible assets consisted of the following:
| |
|
|
|
March 31, 2018 |
| |
|
Estimated life
in years
|
|
Gross amount |
|
Accumulated
Amortization
|
|
Net |
| |
|
|
|
|
|
|
|
|
| Goodwill |
|
Indefinite |
|
$ |
3,015,700 |
|
|
$ |
— |
|
|
$ |
3,015,700 |
|
| Intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trademarks |
|
Indefinite |
|
|
294,268 |
|
|
|
— |
|
|
|
294,268 |
|
| Customer lists |
|
5 - 15 |
|
|
897,274 |
|
|
|
897,274 |
|
|
|
— |
|
| ABC acquired contracts |
|
5 |
|
|
310,000 |
|
|
|
149,833 |
|
|
|
160,167 |
|
| SIAS acquired contracts |
|
5 |
|
|
660,000 |
|
|
|
319,000 |
|
|
|
341,000 |
|
| Non-compete agreements |
|
4 |
|
|
272,147 |
|
|
|
270,203 |
|
|
|
1,344 |
|
| Total intangible assets |
|
|
|
|
2,433,689 |
|
|
|
1,636,310 |
|
|
|
797,379 |
|
| Total Goodwill and Intangible Assets |
|
|
|
$ |
5,449,389 |
|
|
$ |
1,636,310 |
|
|
$ |
3,813,079 |
|
Scheduled amortization over the next three years as follows:
| For the Twelve Months ending March 31, |
|
|
| 2020 |
|
$ |
147,444 |
|
| 2021 |
|
|
194,000 |
|
| 2022 |
|
|
161,067 |
|
| Total |
|
$ |
502,511 |
|
Amortization expense for the three months ended March 31, 2019 and
2018 was $49,334 and $49,334, respectively.
|