| Goodwill and Intangible Assets |
Note 6- Goodwill and Intangible Assets Changes in goodwill for the nine months ended September 30, 2021 consists of the following: | | | | | | Goodwill | Balance at December 31, 2020 | | $ | 7,913,123 | Acquisition of Zodega subsidiaries | | | 4,593,750 | Balance at September 30, 2021 | | $ | 12,506,873 |
As of September 30, 2021 and December 31, 2020, the Company’s intangible assets consisted of the following: | | | | | | | | | | | | | | Weighted average | | September 30, 2021 | | | amortization period | | | | | Accumulated | | | | | | (in years) | | Gross | | Amortization | | Net | Tradenames | | 7.5 | | $ | 932,000 | | $ | (220,927) | | $ | 711,073 | Customer relationships | | 5.7 | | | 3,289,000 | | | (1,048,233) | | $ | 2,240,767 | Non-compete agreements | | 6.6 | | | 564,000 | | | (146,588) | | $ | 417,412 | | | | | $ | 4,785,000 | | $ | (1,415,748) | | $ | 3,369,252 |
| | | | | | | | | | | | | | Weighted average | | December 31, 2020 | | | 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 |
Amortization expense was $0.2 million and $0.6 million for the three and nine months ended September 30, 2021, respectively, and $0.2 million and $0.5 million for the three and nine months ended September 30, 2020, respectively. The estimated aggregate amortization expense for intangible assets over the next five fiscal years and thereafter is as follows: | | | | 2021 (excluding the nine months ended September 30, 2021) | | $ | 199,480 | 2022 | | | 797,920 | 2023 | | | 797,920 | 2024 | | | 781,670 | 2025 | | | 535,087 | Thereafter | | | 257,175 | Total | | $ | 3,369,252 |
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