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Goodwill
 12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Goodwill

NOTE 6 — GOODWILL

 

The changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018, are as follows:

 

    Year Ended December 31,  
    2019     2018  
             
Opening balance   $ -     $ -  
Additions     1,367,109       -  
Acquisition adjustment     -       -  
Impairment adjustment     -       -  
                 
Goodwill   $ 1,367,109     $ -  

 

Our 2019 acquisition of the Echo Entities resulted in the addition to our goodwill balance in 2019. We evaluate goodwill for impairment annually in the fourth quarter, or when there is reason to believe that the value has been diminished or impaired. Based on the Company’s evaluations, no impairment was required as of December 31, 2019