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GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 4 – GOODWILL AND INTANGIBLE ASSETS

As of June 30, 2022 and December 31, 2021, the Company has the following amounts related to goodwill and intangible assets:

	Goodwill and Intangible Assets as at:
	June 30,			December 31,			Amortizable
	2022			2021			Life
Goodwill – Cleared Acquisition	$	6,719,736		$	-
Other Amortizable Intangible Assets:
ResumeBuild brand		4,500,000			-			5 years
Customer relationship asset		1,006,840			1,006,840			3 years
Purchased licenses		200,000			200,000			10 years
Website domain name		22,731			22,231			3 years
Less: accumulated amortization		(1,550,597	)		(1,209,310	)
Total net goodwill and amortizable intangible assets	$	10,898,710		$	19,761

During the three months ended June 30, 2022, the Company recorded a $2.7 million goodwill impairment charge related to a decline in the estimated fair value of Cleared as a result of a decline in the Cleared financial projections. The aggregate amortization expense of the Company’s intangible assets for the three months ended June 30, 2022 and 2021 was approximately $226,893 and $255,937, respectively. The aggregate amortization expense of the Company’s intangible assets for the six months ended June 30, 2022 and 2021 was approximately $341,287 and $339,840, respectively. Total amortization expense for the remainder of 2022 is $453,789. Total amortization expense for 2023 through 2026 is approximately $900,000 per year and $112,500 for 2027.