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Intangible Assets, Net
 3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net
6. Intangible Assets, Net

 

At March 31, 2021, intangible assets consisted of the following:

 

    Estimated         Accumulated        
    Useful Life   Costs     Amortization     Net  
Trade names   10 years   $ 119,000     $ (12,892 )   $ 106,108  
Customer contracts   5-8 years     1,242,000       (217,256 )     1,024,744  
        $ 1,361,000     $ (230,148 )   $ 1,130,852  

 

At December 31, 2020, intangible assets consisted of the following:

 

    Estimated         Accumulated        
    Useful Life   Costs     Amortization     Net  
Trade names   10 years   $ 119,000     $ (9,917 )   $ 109,083  
Customer contracts   5-8 years     1,242,000       (166,112 )     1,075,888  
        $ 1,361,000     $ (176,029 )   $ 1,184,971  

  

Amortization expense for the three months ended March 31, 2021 and December 31, 2020, amounted to $54,119 and $15,856, respectively. The following table represents future amortization expense for intangible assets subject to amortization.

 

For the Twelve Months Ending March 31,   Amount  
2022   $ 216,475  
2023     216,475  
2024     216,475  
2025     216,475  
2026     179,292  
Thereafter     85,660  
    $ 1,130,852