| INTANGIBLE ASSETS |
NOTE
5 – INTANGIBLE ASSETS
Intangible
assets were comprised of the following:
| |
|
March
31, 2019 |
|
| |
|
Gross
carrying
amount
|
|
|
Accumulated
amortization
|
|
|
Net
carrying
value
|
|
| |
|
|
|
|
|
|
|
|
|
| Goodwill |
|
$ |
277,800 |
|
|
|
— |
|
|
$ |
277,800 |
|
| Customer list |
|
|
42,500 |
|
|
|
(42,500 |
) |
|
|
— |
|
| Technology |
|
|
1,021,900 |
|
|
|
(794,500 |
) |
|
|
227,400 |
|
| Trade
name |
|
|
54,900 |
|
|
|
(54,900 |
) |
|
|
— |
|
| |
|
$ |
1,397,100 |
|
|
$ |
(891,900 |
) |
|
$ |
505,200 |
|
| |
|
December
31, 2018 |
|
| |
|
Gross
carrying
amount
|
|
|
Accumulated
amortization
|
|
|
Net
carrying
value
|
|
| |
|
|
|
|
|
|
|
|
|
| Goodwill |
|
$ |
277,800 |
|
|
|
— |
|
|
$ |
277,800 |
|
| Customer list |
|
|
42,500 |
|
|
|
(42,500 |
) |
|
|
— |
|
| Technology |
|
|
1,021,900 |
|
|
|
(782,900 |
) |
|
|
239,000 |
|
| Trade
name |
|
|
54,900 |
|
|
|
(54,900 |
) |
|
|
— |
|
| |
|
$ |
1,397,100 |
|
|
$ |
(880,300 |
) |
|
$ |
516,800 |
|
The
estimated useful lives of the intangible assets range from seven to ten years. Amortization expense was $11,700 and $27,600 for
the three months ended March 31, 2019 and 2018, respectively.
|