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Intangible Assets, Net

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

7. Intangible Assets, Net

At June 30, 2020, intangible assets consisted of the following:

		Estimated						Accumulated
		Useful Life		Costs				Amortization				Net
Trade names		10 years		$	119,000			$	(3,967	)		$	115,033
Customer contracts		5-8 years			1,242,000				(63,825	)			1,178,175
				$	1,361,000			$	(67,792	)		$	1,293,208

Amortization expense for the three and six months ended June 30, 2020, amounted to $51,936 and $67,792, respectively. The following table represents future amortization expense for intangible assets subject to amortization.

For the Six Months Ending June 30,			Amount
2021			$	216,475
2022				216,475
2023				216,475
2024				216,475
2025				212,108
Thereafter				215,200
			$	1,293,208

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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