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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 5 – INTANGIBLE ASSETS Intangible assets consist of proprietary developed software, intellectual property, customer lists and acquired contracts carried at cost less accumulated amortization and customer lists acquired at fair value less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives. The components of intangible assets are as follows:
|  | December 31, 2020 |  |  | December 31, 2019 |  |  | Estimated Useful Lives |
Proprietary developed software |  | $ | 390,082 |  |  | $ | 390,082 |  |  |  | 5 –7 |
Intellectual property, customer list, and acquired contracts |  |  | 5,340,612 |  |  |  | 4,430,014 |  |  |  | 5 –15 |
Total intangible assets |  | $ | 5,730,694 |  |  | $ | 4,820,096 |  |  |  |  |
Less: accumulated amortization |  |  | (2,604,358 | ) |  |  | (2,212,795 | ) |  |  |  |
|  | $ | 3,126,336 |  |  | $ | 2,607,301 |  |  |  |  |
Amortization expense related to the above intangible assets was $391,563 and $381,933, respectively, the years ended December 31, 2020 and 2019. Impairment on intangible assets was $-0- and $236,860 for the years ended December 31, 2020 and 2019, respectively. The Company expects future amortization expense to be the following:
|  | Amortization |
2021 |  | $ | 429,412 |
2022 |  |  | 362,709 |
2023 |  |  | 299,597 |
2024 |  |  | 299,597 |
2025 |  |  | 292,740 |
thereafter |  |  | 1,442,281 |
Total |  | $ | 3,126,336 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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