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Property and Equipment (Southwestern Montana Financial Center, Inc.) | 9 Months Ended | 12 Months Ended
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Sep. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018
Property and Equipment | NOTE 5. PROPERTY AND EQUIPMENT Property and equipment consisted of the following:
|  | Estimated Useful Lives (Years) |  | September 30, 2020 |  |  | December 31, 2019 |
Computer equipment and software |  | 5 |  | $ | 33,774 |  |  | $ | 33,774 |
Office equipment and furniture |  | 7 |  |  | 37,538 |  |  |  | 36,573 |
Leasehold Improvements |  | Shorter of the useful life or the lease term |  |  | 56,631 |  |  |  | 56,631 |
Software |  | 3 |  |  | 562,327 |  |  |  | 562,327 |
Property and equipment, gross |  |  |  |  | 690,270 |  |  |  | 689,305 |
Less: Accumulated depreciation and amortization |  |  |  |  | (271,813 | ) |  |  | (97,054 | )
Property and equipment, net |  |  |  | $ | 418,457 |  |  | $ | 592,251 |
Depreciation expense associated with property and equipment is included in depreciation within the Company’s Condensed Consolidated Statements of Operations was $173,791 and $57,771 for the nine months ended September 30, 2020 and 2019, respectively. | NOTE 5. PROPERTY AND EQUIPMENT Property and equipment consisted of the following:
|  | Estimated Useful Lives |  |  | December 31, 2019 |  |  | December 31, 2018 |
Computer equipment and software |  |  | 5 |  |  | $ | 33,774 |  |  | $ | 6,445 |
Office equipment and furniture |  |  | 7 |  |  |  | 36,573 |  |  |  | 9,257 |
Leasehold Improvements |  |  | Shorter of the useful life or the lease term |  |  |  | 56,631 |  |  |  | 44,082 |
Software |  |  | 3 |  |  |  | 562,327 |  |  |  | - |
Property and equipment, gross |  |  |  |  |  |  | 689,305 |  |  |  | 59,785 |
Less: Accumulated depreciation and amortization |  |  |  |  |  |  | (97,054 | ) |  |  | (2,580 | )
Property and equipment, net |  |  |  |  |  | $ | 592,251 |  |  | $ | 57,205 |
Depreciation expense associated with property and equipment is included in depreciation within the Company’s Consolidated Statement of Operations was $94,474 and $2,580 for the year ended December 31, 2019 and the period from August 1, 2018 to December 31, 2018, respectively. Software On July 22, 2019, the Company entered into a purchase agreement with The Referral Depot, LLC (TRD), a related party, to purchase a client referral software created exclusively for the insurance industry. The Company purchased this software to be utilized internally and does not plan to license, sell, or otherwise market the software, as such the total cost of the software has been capitalized and will be amortized on a straight-line basis over the useful life. The total purchase price of the software is $250,000 cash and 2,000,000 restricted common shares (at $0.17 per share which amounted to $340,000) of the Company. Per the agreement, the Company paid an initial payment of $50,000 at closing and the remaining $200,000 will be paid with forty-eight equal monthly payments commencing on the first anniversary of the effective date, or July 22, 2020. As of December 31, 2019, the Company recorded a loan payable to a related party of $172,327, net of discount on the loan of $27,673. As of December 31, 2019, no shares related to this acquisition have been issued. The Company has recorded the 2,000,000 shares as common stock issuable as of December 31, 2019. The total carrying cost of the software as of December 31, 2019 is $562,327. Depreciation Expense related to the software for the year ending December 31, 2019 was $78,101. |
Southwestern Montana Financial Center, Inc. [Member] |  |  |
Property and Equipment |  |  | NOTE 3. PROPERTY AND EQUIPMENT Property and equipment consisted of the following:
Estimated Useful Lives |  |  |  | December 31, 2018 |  |  | December 31, 2017 |
Office equipment |  | 5 |  | $ | 26,322 |  |  | $ | 26,322 |
Vehicles |  | 5 |  |  | 125,046 |  |  |  | 125,046 |
Furniture and fixtures |  | 7 |  |  | 10,103 |  |  |  | 10,103 |
Leasehold improvements |  | 15 |  |  | 2,949 |  |  |  | 2,949 |
Property and equipment, gross |  |  |  |  | 164,420 |  |  |  | 164,420 |
Less: Accumulated depreciation |  |  |  |  | (72,458 | ) |  |  | (42,147 | )
Property and equipment, net |  |  |  | $ | 91,962 |  |  | $ | 122,273 |
Depreciation expense associated with property and equipment was $30,311 and $27,815 for the years ended December 31, 2018 and 2017, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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