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Strategic Investments and Business Combination (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Southwestern Montana Financial Center, Inc. [Member]

Schedule of Allocation of Purchase Price

The allocation of the purchase price in connection with the SWMT Acquisition was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Customer relationships		$	561,000				10
Non-competition agreements			599,200				5
Goodwill			1,217,790				Indefinite
Fixed assets			41,098				5-7
Loan Payable			(24,579	)
		$	2,394,509

The allocation of the purchase price in connection with the SWMT Acquisition was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Customer relationships		$	561,000				10
Non-competition agreements			599,200				5
Goodwill			1,217,790				Indefinite
Fixed assets			41,098				5-7
Loan Payable			(24,579	)
		$	2,394,509

Fortman Insurance Agency, LLC [Member]

Schedule of Allocation of Purchase Price

The allocation of the purchase price in connection with the FIS Acquisition was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Trade name and trademarks		$	289,400				5
Customer relationships			1,824,000				10
Non-competition agreements			752,800				5
Goodwill			1,269,731				Indefinite
Fixed assets			19,924				5-7
Prepaid rent			550
		$	4,156,405

The allocation of the purchase price in connection with the FIS Acquisition was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Trade name and trademarks		$	289,400				5
Customer relationships			1,824,000				10
Non-competition agreements			752,800				5
Goodwill			1,269,731				Indefinite
Fixed assets			19,924				5-7
Prepaid rent			550
		$	4,156,405

Altruis Benefits Consulting, LLC [Member]

Schedule of Allocation of Purchase Price

The allocation of the purchase price in connection with the ABC Acquisition was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Cash		$	1,850,037
Trade name and trademarks			714,600				5
Customer relationships			753,000				10
Non-competition agreements			1,168,600				5
Goodwill			4,949,329				Indefinite
Fixed assets			85				5
Payable to seller			(1,747,483	)
		$	7,688,168

The allocation of the purchase price in connection with the ABC Transaction was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Cash		$	1,850,037
Trade name and trademarks			714,600				5
Customer relationships			753,000				10
Non-competition agreements			1,168,600				5
Goodwill			4,949,329				Indefinite
Fixed assets			85				5
Payable to seller			(1,747,483	)
		$	7,688,168

UIS Agency, LLC [Member]

Schedule of Allocation of Purchase Price

The allocation of the purchase price in connection with the UIS Acquisition was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Cash		$	5,772
Trade name and trademarks			35,600				5
Customer relationships			100,000				10
Non-competition agreements			25,500				5
Goodwill			716,462				Indefinite
		$	883,334

U.S. Benefits Alliance, LLC [Member]

Schedule of Allocation of Purchase Price

The allocation of the purchase price in connection with the USBA Acquisition was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Trade name and trademarks		$	6,520				3
Customer relationships			116,100				9
Non-competition agreements			48,540				5
Goodwill			578,840				Indefinite
		$	750,000

Employee Benefit Solutions, Inc [Member]

Schedule of Allocation of Purchase Price

he allocation of the purchase price in connection with the EBS Acquisition was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Trade name and trademarks		$	33,140				20
Customer relationships			47,630				9
Non-competition agreements			42,320				5
Goodwill			274,956				Indefinite
Fixed assets			1,954				5-7
		$	400,000

Commercial Solutions of Insurance Agency, LLC [Member]

Schedule of Allocation of Purchase Price

The allocation of the purchase price in connection with the CSIA Acquisition was calculated as follows:

Description		Fair Value				Weighted Average Useful Life (Years)
Cash		$	13,500				N/A
Fixed Assets			1,638				5-7
Customer relationships			284,560				11
Non-competition agreements			40,050				5
Trade name and trademarks			8,500				2
Goodwill			851,752				Indefinite
		$	1,200,000

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472

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