| Summary of changes in goodwill |
Changes in goodwill for the three months ended March 31, 2021 consists of the following:
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Balance at December 31, 2020
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$
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7,913,123
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|
Acquisition of Zodega subsidiaries
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|
$
|
4,320,401
|
|
Balance at March 31, 2021
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|
$
|
12,233,524
|
|
| Schedule of intangible assets |
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Weighted average
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|
March 31, 2021
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|
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amortization period (in years)
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|
Gross
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Accumulated Amortization
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Net
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|
Tradenames
|
|
7.5
|
|
$
|
932,000
|
|
$
|
(157,448)
|
|
$
|
774,552
|
|
Customer relationships
|
|
5.7
|
|
|
3,289,000
|
|
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(757,217)
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|
|
2,531,783
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|
Non-compete agreements
|
|
6.6
|
|
|
564,000
|
|
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(102,125)
|
|
|
461,875
|
|
|
|
|
|
$
|
4,785,000
|
|
$
|
(1,016,790)
|
|
$
|
3,768,210
|
|
|
|
|
|
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|
|
|
|
|
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|
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Weighted average
|
|
December 31, 2020
|
|
|
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amortization period (in years)
|
|
Gross
|
|
Accumulated Amortization
|
|
Net
|
|
Tradenames
|
|
7.5
|
|
$
|
932,000
|
|
$
|
(125,708)
|
|
$
|
806,292
|
|
Customer relationships
|
|
5.7
|
|
|
3,289,000
|
|
|
(611,709)
|
|
|
2,677,291
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|
Non-compete agreements
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|
6.6
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|
|
564,000
|
|
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(79,893)
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|
|
484,107
|
|
|
|
|
|
$
|
4,785,000
|
|
$
|
(817,310)
|
|
$
|
3,967,690
|
|