Long-Lived Intangible Assets

12 Months Ended

Dec. 31, 2021

NOTE 7 – LONG LIVED INTANGIBLE ASSETS

Definite lived intangible assets related to acquisitions are as follows as of December 31, 2021:
	Expected Life	Remaining Months	Gross Intangible Assets		Accumulated Amortization			Net Intangible Assets
Customer lists and relationships	36 to 60 months	0 to 20 months	$	2,084,515	$	(1,979,130	)	$	105,385
Drawings and technology	36 months	0 months		760,207		(760,207	)		-
Trade name, trademarks & other	24 to 36 months	0 months		447,274		(447,274	)		-
Non-compete	36 months	0 months		246,797		(246,797	)		-
			$	3,538,793	$	(3,433,408	)	$	105,385

Definite lived intangible assets related to acquisitions are as follows as of December 31, 2020:
	Expected Life	Remaining Months	Gross Intangible Assets		Accumulated Amortization			Net Intangible Assets
Customer lists and relationships	36 to 60 months	10 to 32 months	$	2,084,515	$	(1,578,178	)	$	506,337
Drawings and technology	36 months	0 months		760,207		(760,207	)		-
Trade name, trademarks & other	24 to 36 months	10 months		447,274		(355,742	)		91,532
Non-compete	36 months	10 months		246,797		(182,409	)		64,388
			$	3,538,793	$	(2,876,536	)	$	662,257

The amortization expense of the definite lived intangible assets for the years remaining is as follows:

2022				2023				Total
$	63,231			$	42,154			$	105,385

Amortization expense recognized during the years ended December 31, 2021 and 2020, was $556,873 and $683,935, respectively.