| Goodwill and Intangible Assets |
Note 4 - Goodwill and Intangible
Assets
Goodwill and intangible assets consisted
of the following:
| |
|
|
|
December 31, 2019 |
| |
|
Estimated life
in years |
|
Gross amount |
|
Accumulated
Amortization |
|
Net |
| Intangible assets not subject to amortization |
|
|
|
|
|
|
|
|
| Goodwill |
|
|
Indefinite |
|
|
$ |
3,015,700 |
|
|
$ |
— |
|
|
$ |
3,015,700 |
| Trademarks |
|
|
Indefinite |
|
|
|
294,268 |
|
|
|
— |
|
|
|
294,268 |
| Total intangible
assets not subject to amortization |
|
|
|
|
|
|
3,309,968 |
|
|
|
— |
|
|
|
3,309,968 |
| Intangible assets subject to amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer lists |
|
|
5 - 15 |
|
|
|
897,274 |
|
|
|
897,274 |
|
|
|
— |
| ABC acquired contracts |
|
|
5 |
|
|
|
310,000 |
|
|
|
196,334 |
|
|
|
113,666 |
| SIAS acquired contracts |
|
|
5 |
|
|
|
660,000 |
|
|
|
418,000 |
|
|
|
242,000 |
| Non-compete agreements |
|
|
4 |
|
|
|
272,147 |
|
|
|
272,147 |
|
|
|
- |
| Total intangible assets subject to amortization |
|
|
|
|
|
|
2,139,421 |
|
|
|
1,783,755 |
|
|
|
355,666 |
| Total Goodwill and Intangible Assets |
|
|
|
|
|
$ |
5,449,389 |
|
|
$ |
1,783,755 |
|
|
$ |
3,665,634 |
|