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Intangible Assets
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 4 – INTANGIBLE ASSETS


Intangible assets, net, consist of the following as of:


   December 31,
2020		   December 31,
2019		 
Merchant Portfolios  $2,340,000   $2,190,000 
Less Accumulated Amortization   (1,199,184)   (854,761)
Net residual portfolios  $1,140,816   $1,335,239 

   December 31,
2020		   December 31,
2019		 
Trade name  $2,500,000   $2,500,000 
Less Accumulated Amortization   (1,000,000)   (500,000)
Net trade name  $1,500,000   $2,000,000 

Amortization expense for the years ended December 31, 2020 and 2019 was $844,423 and $812,857, 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:


2021   $863,615 
2022    863,615 
2023    496,443 
2024    312,857 
2025    104,286 
Total   $2,640,816 

The weighted average remaining useful life of amortizing intangible assets was 3.08 years at December 31, 2020.