v3.21.2

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets

Summary of changes in goodwill

Changes in goodwill for the six months ended June 30, 2021 consists of the following:

​

​	​	​	​
​	​	Goodwill
Balance at December 31, 2020	​	​	7,913,123
Acquisition of Zodega subsidiaries	​	​	4,320,401
Balance at June 30, 2021	​	$	12,233,524

Schedule of intangible assets

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Weighted average	​	June 30, 2021
​	​	amortization period	​	​	​	​	Accumulated		​	​	​
​		(in years)		Gross			Amortization			Net
Tradenames		7.5	​	$	932,000	​	$	(189,187)	​	$	742,813
Customer relationships		5.7	​		3,289,000	​		(902,725)	​	$	2,386,275
Non-compete agreements		6.6	​		564,000	​		(124,357)	​	$	439,643
​			​	$	4,785,000	​	$	(1,216,269)	​	$	3,568,731

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Weighted average	​	December 31, 2021
​	​	amortization period	​	​	​	​	Accumulated		​	​	​
​		(in years)		Gross			Amortization			Net
Tradenames		7.5	​	$	932,000	​	$	(125,708)	​	$	806,292
Customer relationships		5.7	​		3,289,000	​		(611,709)	​	$	2,677,291
Non-compete agreements	​	6.6	​	​	564,000	​	​	(79,893)	​	$	484,107
​			​	$	4,785,000	​	$	(817,310)	​	$	3,967,690

Schedule of estimated aggregate amortization expense

​

​	​	​	​
2021 (excluding the six months ended June 30, 2021)		$	398,960
2022	​		797,920
2023	​		797,920
2024	​		781,670
2025	​		535,087
Thereafter	​		257,174
Total	​	$	3,568,731

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