XML 39 R30.htm IDEA: XBRL DOCUMENT v3.22.2.2
INTANGIBLE ASSETS, NET (Tables)
9 Months Ended
Sep. 30, 2022
INTANGIBLE ASSETS, NET [Abstract]  
Intangible Assets
The following tables summarize the Company’s intangible assets as of September 30, 2022 and December 31, 2021:

   
Estimated
Useful Life
(Years)
   
Gross Carrying
Amount at
December 31,
2021
   
Accumulated
Amortization
   
Net Book
Value at
September 30,
2022
 
Customer Relationships
   
5
   
$
5,269,000
   
$
(1,663,834
)
 
$
3,605,166
 
Software Technology
   
2
     
1,170,000
     
(923,060
)
   
246,940
 
Software Technology
   
7
     
4,109,000
     
(926,273
)
   
3,182,727
 
Tradenames and Trademarks
   
8
     
386,000
     
(76,156
)
   
309,844
 
           
$
10,934,000
   
$
(3,589,323
)
 
$
7,344,677
 

   
Estimated
Useful Life
(Years)
   
Gross Carrying
Amount at
March 2,
2021
   
Accumulated
Amortization
   
Net Book
Value at
December 31,
2021
 
Customer Relationships
   
5
   
$
5,269,000
   
$
(872,501
)
 
$
4,396,499
 
Software Technology
   
2
     
1,170,000
     
(484,355
)
   
685,645
 
Software Technology
   
7
     
4,109,000
     
(486,011
)
   
3,622,989
 
Tradenames and Trademarks
   
8
     
386,000
     
(39,949
)
   
346,051
 
           
$
10,934,000
   
$
(1,882,816
)
 
$
9,051,184
 
Estimated Future Amortization Expense
The estimated future amortization expense for the next five years and thereafter is as follows:

Years Ending December 31,
 
Future amortization expense
 
2022 (Remaining)
 
$
567,543
 
2023
   
1,789,695
 
2024
   
1,689,050
 
2025
   
1,689,050
 
2026
   
816,549
 
Thereafter
   
792,790
 
Total
 
$
7,344,677