| INTANGIBLE ASSETS |
NOTE
5 – INTANGIBLE ASSETS
SCHEDULE OF INTANGIBLE ASSETS
| |
|
Gross carrying amount |
|
|
Accumulated amortization |
|
|
Net carrying value |
|
| |
|
March 31, 2022 |
|
| |
|
Gross carrying amount |
|
|
Accumulated amortization |
|
|
Net carrying value |
|
| |
|
|
|
|
|
|
|
|
|
| Goodwill |
|
$ |
277,800 |
|
|
$ |
- |
|
|
$ |
277,800 |
|
| Customer list |
|
|
42,500 |
|
|
|
(42,500 |
) |
|
|
- |
|
| Technology |
|
|
1,021,900 |
|
|
|
(885,900 |
) |
|
|
136,000 |
|
| Trade name |
|
|
54,900 |
|
|
|
(54,900 |
) |
|
|
- |
|
|
|
$ |
1,397,100 |
|
|
$ |
(983,300 |
) |
|
$ |
413,800 |
|
| |
|
Gross carrying amount |
|
|
Accumulated amortization |
|
|
Net carrying value |
|
| |
|
December 31, 2021 |
|
| |
|
Gross carrying amount |
|
|
Accumulated amortization |
|
|
Net carrying value |
|
| |
|
|
|
|
|
|
|
|
|
| Goodwill |
|
$ |
277,800 |
|
|
$ |
- |
|
|
$ |
277,800 |
|
| Customer list |
|
|
42,500 |
|
|
|
(42,500 |
) |
|
|
- |
|
| Technology |
|
|
1,021,900 |
|
|
|
(880,400 |
) |
|
|
141,500 |
|
| Trade name |
|
|
54,900 |
|
|
|
(54,900 |
) |
|
|
- |
|
|
|
$ |
1,397,100 |
|
|
$ |
(977,800 |
) |
|
$ |
419,300 |
|
The
estimated useful lives of the intangible assets range from seven
to twenty
years. Amortization expense was $5,500
and $8,000
for the three months ended March 31, 2022,
and 2021, respectively.
|