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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF IMPAIRMENT OF GOODWILL

 

   Goodwill 
December 31, 2020  $8,761,725 
Goodwill recognized in connection with Kush acquisition on May 1, 2021  $1,288,552 
December 31, 2021  $10,050,277 
Goodwill recognized in connection with Medigap acquisition on January 10, 2022  $19,199,008 
March 31, 2022  $29,249,285 
SCHEDULE OF INTANGIBLE ASSETS AND WEIGHTED-AVERAGE REMAINING AMORTIZATION PERIOD

The following table sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization period as of March 31, 2022:

 

   Weighted Average Remaining Amortization period (Years)  

Gross

Carrying

Amount

   Accumulated Amortization  

Net

Carrying Amount

 
Trade name and trademarks   5.1   $2,117,475   $(701,666)  $1,415,809 
Internally developed software   4.4    881,586    (67,682)   813,904 
Customer relationships   9.7    8,787,290    (1,239,562)   7,547,728 
Purchased software   0.3    562,327    (499,846)   62,481 
Video Production Assets   0.8    50,000    (9,863)   40,137 
Non-competition agreements   2.6    3,504,809    (1,653,617)   1,851,192 
Contracts Backlog   0.8    210,000    (46,028)   163,972 
        $16,113,487   $(4,218,264)  $11,895,223 

 

The following table sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization period as of December 31, 2021:

 

   Weighted Average Remaining Amortization period (Years)  

Gross

Carrying

Amount

   Accumulated Amortization  

Net

Carrying Amount

 
Trade name and trademarks   3.5   $1,777,475   $(609,822)  $1,167,653 
Internally developed software   4.7    595,351    (28,443)   566,908 
Customer relationships   7.7    4,237,290    (1,048,726)   3,188,564 
Purchased software   0.6    562,327    (452,985)   109,342 
Video Production Assets   1.0    20,000    -    20,000 
Non-competition agreements   2.9    3,504,809    (1,478,376)   2,026,433 
        $10,697,252   $(3,618,352)  $7,078,900 
SCHEDULE OF AMORTIZATION EXPENSE OF ACQUIRED INTANGIBLES ASSETS

The following table reflects expected amortization expense as of March 31, 2022, for each of the following five years and thereafter:

 

Years ending December 31,  Amortization Expense 
2022 (remainder of year)  $1,823,253 
2023   

2,064,243

 
2024   1,771,983 
2025   1,325,184 
2026   1,064,552 
Thereafter   

3,846,008

 
Total  $11,895,223