Post-effective amendment to a registration statement that is not immediately effective upon filing

Intangible Asset - Customer List

v3.22.1
Intangible Asset - Customer List
3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Intangible Asset - Customer List [Abstract]    
INTANGIBLE ASSET - CUSTOMER LIST
E. INTANGIBLE ASSET - Customer List:

 

Wildman Acquisition

 

The Company has acquired select assets and the customer list of an entity as discussed in Note H and Note L. 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 March 31, 2022 and December 31, 2021, the Company’s evaluation of Intangible Asset - Customer List has resulted in accumulated impairment of $131,471 and $69,583, respectively.

 

Amortization expense related to intangible asset - customer list was $53,055 and $37,561 for the three months ended March 31, 2022 and 2021.

 

Estimated future amortization expense for the years:

 

       
2022   $ 212,222  
2023     212,222  
2024     212,222  
2025     212,222  
2026     212,222  
    $ 1,061,110  

 

G.A.P. Acquisition

 

The Company has acquired select assets and the customer list of an entity as discussed in Note H and Note L. The Company, using a Contingent Earn-Out Calculation, made the determination that the amounts allocated to Intangible Asset - Customer List amounted to $2,275,290. The intangible asset - customer list is amortized over 10 years. At March 31, 2022 and December 31, 2021, the Company’s evaluation of Intangible Asset - Customer List has resulted in accumulated impairment of zero.

 

Amortization expense related to intangible asset - customer list was $37,922 and zero for the three months ended March 31, 2022 and 2021.

 

Estimated future amortization expense for the years:

 

       
2022   $ 208,568  
2023     227,529  
2024     227,529  
2025     227,529  
2026     227,529  
    $ 1,118,684  
E. 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:

 

2022     $ 225,369  
2023       225,369  
2024       225,369  
2025       225,369  
2026       225,369  
      $ 1,126,845