XML 83 R13.htm IDEA: XBRL DOCUMENT
v3.19.3

Intangible Assets | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2019 | Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |  |
INTANGIBLE ASSETS | NOTE 4 – INTANGIBLE ASSETS Intangible assets, net, consist of the following as of:
|  | June 30, 2019 |  |  | December 31, 2018 |
Merchant Portfolios |  | $ | 2,190,000 |  |  | $ | 2,190,000 |
Less Accumulated Amortization |  |  | (365,333 | ) |  |  | (208,571 | )
Net residual portfolios |  | $ | 1,824,667 |  |  | $ | 1,981,429 |
|  | June 30, 2019 |  |  | December 31, 2018 |
Trade name |  | $ | 2,500,000 |  |  | $ | 2,500,000 |
Less Accumulated Amortization |  |  | (583,000 | ) |  |  | (333,333 | )
Net trade name |  | $ | 1,917,000 |  |  | $ | 2,166,667 |
Amortization expense for the three and six months ended June 30, 2019 was $178,782 and $406,429, respectively. Amortization expense for the three and six months ended June 30, 2018 was $227,677 and $227,677, respectively. The Company's merchant portfolios and tradename are being amortized over respective useful lives of 7 and 5 years. The following sets forth the estimated amortization expense related to amortizing intangible assets for the years ended December 31:
2019 (remainder of year) |  | $ | 406,428 |
2020 |  | $ | 812,857 |
2021 |  | $ | 812,857 |
2022 |  | $ | 812,857 |
2023 |  | $ | 479,524 |
Thereafter |  | $ | 417,144 |
Total |  | $ | 3,741,667 |
The weighted average remaining useful life of amortizing intangible assets was 5.50 years at June 30, 2019. | NOTE 6 – INTANGIBLE ASSETS Other assets consist of the following as of:
|  | December 31 |  |  | December 31, 2017 |
|  | 2018 |  |  | 2017 |  |  | Predecessor |
Merchant Portfolios |  | $ | 2,190,000 |  |  | $ | - |  |  | $ | 2,540,690 |
Less Accumulated Amortization |  |  | (208,571 | ) |  |  | - |  |  |  | (756,158 | )
Net residual portfolios |  | $ | 1,981,429 |  |  | $ | - |  |  | $ | 1,784,532 |
|  | December 31 |  |  | December 31, 2017 |
|  | 2018 |  |  | 2017 |  |  | Predecessor |
Trade name |  | $ | 2,500,000 |  |  | $ | - |  |  | $ | - |
Less Accumulated Amortization |  |  | (333,333 | ) |  |  | - |  |  |  | - |
Net trade name |  | $ | 2,166,667 |  |  | $ | - |  |  | $ | - |
Amortization expense amounted to $541,904 for the year ended December 31, 2018. The predecessor’s amortization expense for the period from January 1, 2018 to April 8, 2018 and for the year ended December 31, 2017 was $90,739 and $362,956, respectively. The Company’s merchant portfolios and tradename are being amortized over respective useful lives of 7 and 5 years. The following sets forth the estimated amortization expense related to amortizing intangible assets for the years ended December 31:
2019 |  | $ | 812,857 |
2020 |  | $ | 812,857 |
2021 |  | $ | 812,857 |
2022 |  | $ | 812,857 |
2023 |  | $ | 479,524 |
Thereafter |  | $ | 417,144 |
The weighted average remaining useful life of amortizing intangible assets was 6 years at December 31, 2018.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration