Quarterly report pursuant to Section 13 or 15(d)

Long-Lived Intangible Assets (Tables)

v3.20.1
Long-Lived Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Definite Lived Intangible Assets

Definite lived intangible assets related to acquisition are as follows, as of March 31, 2020:

 

 

 

Expected

Life

 

Remaining

Months

 

Gross

Intangible

Assets

 

 

Accumulated

Amortization

 

 

Net

Intangible

Assets

 

Customer lists and relationships

 

36 to 60 months

 

19 to 41 months

 

$

2,084,515

 

 

$

(1,226,805

)

 

$

857,710

 

Drawings and Technology

 

36 months

 

0 months

 

 

760,207

 

 

 

(760,207

)

 

 

-

 

Trade name, Trademarks & other

 

24 to 36 months

 

5 to 19 months

 

 

447,274

 

 

 

(255,655

)

 

 

191,619

 

Non-compete

 

36 months

 

19 months

 

 

246,797

 

 

 

(124,460

)

 

 

122,337

 

 

 

 

 

 

 

$

3,538,793

 

 

$

(2,367,126

)

 

$

1,171,667

 

 

Definite lived intangibles assets related to acquisitions are as follows, as of December 31, 2019:

 

 

 

Expected

Life

 

Remaining

Months

 

Gross

Intangible

Assets

 

 

Accumulated

Amortization

 

 

Net

Intangible

Assets

 

Customer lists and relationships

 

36 to 60 months

 

22 to 44 months

 

$

2,084,515

 

 

$

(1,109,681

)

 

$

974,834

 

Drawings and Technology

 

36 months

 

0 months

 

 

760,207

 

 

 

(760,207

)

 

 

-

 

Trade name, Trademarks & other

 

24 to 36 months

 

8 to 22 months

 

 

447,274

 

 

 

(217,570

)

 

 

229,704

 

Non-compete

 

36 months

 

22 months

 

 

246,797

 

 

 

(105,143

)

 

 

141,654

 

 

 

 

 

 

 

$

3,538,793

 

 

$

(2,192,601

)

 

$

1,346,192

 

Schedule of Amortization Expense of Definite Lived Intangible Assets

As of March 31, 2020, amortization expense of the definite lived intangible assets for the years remaining is as follows:

 

 

2020

 

 

2021

 

 

2022

 

 

2023

 

 

Total

 

 

$

509,410

 

 

$

556,872

 

 

$

63,231

 

 

$

42,154

 

 

$

1,171,667