v3.21.2

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets

Summary of changes in goodwill

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

Schedule of intangible assets

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	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

Schedule of estimated aggregate amortization expense

​

​	​	​	​
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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