Intangible Asset - Customer List |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 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 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 June 30, 2022 and December 31, 2021, the Company’s evaluation of Intangible Asset - Customer List has resulted in accumulated impairment of $139,990 and $69,583, respectively.
Amortization expense related to intangible asset - customer list was $106,110 and $75,123 for the six months ended June 30, 2022 and 2021.
Estimated future amortization expense for the twelve months ended June 30,:
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 June 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 $94,804 and zero for the six months ended June 30, 2022 and 2021.
Estimated future amortization expense for the twelve months ended June 30,:
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