Intangible Asset - Customer List |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSET - CUSTOMER LIST |
Wildman Acquisition
The Company has acquired select assets and the customer list of an entity as discussed in Note I and Note M. 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 September 30, 2022 and December 31, 2021, the Company’s evaluation of Intangible Asset - Customer List has resulted in accumulated impairment of $210,330 and $69,583, respectively.
Amortization expense related to intangible asset - customer list was $158,952 and $75,123 for the nine months ended September 30, 2022 and 2021.
Estimated future amortization expense for the twelve months ended September 30,:
G.A.P. Acquisition
The Company has acquired select assets and the customer list of an entity as discussed in Note I and Note M. 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 September 30, 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 lists was $151,686 and zero for the nine months ended September 30, 2022 and 2021.
Estimated future amortization expense for the twelve months ended September 30,:
Trend Acquisition
The Company has acquired select assets and the customer list of an entity as discussed in Note I and Note M. The Company, using a Contingent Earn-Out Calculation, made the determination that the amounts allocated to Intangible Asset - Customer List amounted to $1,659,831. The intangible asset - customer list is amortized over 10 years. At September 30, 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 lists was $13,832 and zero for the nine months ended September 30, 2022 and 2021.
Estimated future amortization expense for the twelve months ended September 30,:
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