Intangible Asset - Customer List |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2021 | ||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSET - CUSTOMER LIST |
The Company has acquired select assets and the customer list of an entity as discussed in Note J and Note N. The Company, using a Contingent Earn-Out Calculation, made the determination that the amounts allocated to Intangible Asset - Customer List amounted to $2,253,690. The intangible asset - customer list is amortized over 10 years. At December 31, 2021 and 2020, the Company’s evaluation of Intangible Asset - Customer List has resulted in accumulated impairment of $69,583 and zero, respectively.
Amortization expense related to intangible asset - customer list was $254,812 and $37,562 for the years ended December 31, 2021 and 2020.
Estimated future amortization expense for the years ended December 31:
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- References No definition available.
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- Definition The entire disclosure for goodwill and intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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