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Goodwill | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | The changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019, are as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
Opening balance |  | $ | 1,367,109 |  |  | $ | - |
Additions |  |  | - |  |  |  | 1,367,109 |
Acquisition adjustment |  |  | - |  |  |  | - |
Impairment adjustment |  |  | - |  |  |  | - |
Goodwill |  | $ | 1,367,109 |  |  | $ | 1,367,109 |
Our 2019 acquisition of the assets of the Echo Legacy Entities resulted in the addition to our goodwill balance in 2019. The Company’s goodwill is related to the ECHG segment only and not the whole Company. 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, 2020 and 2019.

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- Definition The entire disclosure for goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2144439 + Details
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