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Long-Lived Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Definite Lived Intangible Assets

Definite lived intangible assets related to acquisition are as follows, as of September 30, 2020:

		Expected Life		Remaining Months		Gross Intangible Assets				Accumulated Amortization				Net Intangible Assets
Customer lists and relationships		36 to 60 months		13 to 35 months		$	2,084,515			$	(1,461,054	)		$	623,461
Drawings and Technology		36 months		0 months			760,207				(760,207	)			-
Trade name, Trademarks & other		24 to 36 months		13 months			447,274				(328,282	)			118,992
Non-compete		36 months		13 months			246,797				(163,093	)			83,704
						$	3,538,793			$	(2,712,636	)		$	826,157

Definite lived intangibles assets related to acquisitions are as follows, as of December 31, 2019:

		Expected Life		Remaining Months		Gross Intangible Assets				Accumulated Amortization				Net Intangible Assets
Customer lists and relationships		36 to 60 months		22 to 44 months		$	2,084,515			$	(1,109,681	)		$	974,834
Drawings and Technology		36 months		0 months			760,207				(760,207	)			-
Trade name, Trademarks & other		24 to 36 months		8 to 22 months			447,274				(217,570	)			229,704
Non-compete		36 months		22 months			246,797				(105,143	)			141,654
						$	3,538,793			$	(2,192,601	)		$	1,346,192

Schedule of Amortization Expense of Definite Lived Intangible Assets

As of September 30, 2020, amortization expense of the definite lived intangible assets for the years remaining is as follows:

2020				2021				2022				2023				Total
$	163,900			$	556,872			$	63,231			$	42,154			$	826,157

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- References

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- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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