| INTANGIBLE ASSETS |
NOTE
5 – INTANGIBLE ASSETS
SCHEDULE OF INTANGIBLE ASSETS
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June 30, 2022 (unaudited) |
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Gross carrying amount |
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|
Accumulated amortization |
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|
Net carrying value |
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| Goodwill |
|
$ |
277,800 |
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|
$ |
- |
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|
$ |
277,800 |
|
| Customer list |
|
|
42,500 |
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|
|
(42,500 |
) |
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|
- |
|
| Technology |
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|
1,021,900 |
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|
|
(891,400 |
) |
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|
130,500 |
|
| Trade name |
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|
54,900 |
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|
|
(54,900 |
) |
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|
- |
|
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|
$ |
1,397,100 |
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|
$ |
(988,800 |
) |
|
$ |
408,300 |
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December 31, 2021 |
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|
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 |
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|
54,900 |
|
|
|
(54,900 |
) |
|
|
- |
|
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|
$ |
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 June 30, 2022, and 2021, respectively. Amortization expense was $11,100 and $16,100 for the six months ended June
30, 2022, and 2021, respectively.
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