XML 42 R13.htm IDEA: XBRL DOCUMENT
v3.20.2

Intangible Assets | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2020 | Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |  |
Intangible Assets | NOTE 5. INTANGIBLE ASSETS: The Company’s intangible assets primarily consists of the customer lists it acquired through various acquisitions. We amortize our intangible assets that have finite lives using either the straight-line method or based on estimated future cash flows to approximate the pattern in which the economic benefit of the asset will be utilized. Amortization expense was $1.1 million for the six months ended June 30, 2020 and June 30, 2019. This amortization expense relates to customer lists which expire through 2022. | NOTE 5. INTANGIBLE ASSETS: The Company’s intangible assets primarily consists of the customer lists it acquired through various acquisitions. We amortize our intangible assets that have finite lives using either the straight-line method or based on estimated future cash flows to approximate the pattern in which the economic benefit of the asset will be utilized. Amortization expense was $2.3 million and $2.9 million during the years ended December 31, 2019 and December 31, 2018, respectively. This amortization expense relates to customer lists which expire through 2022. During the year ended December 31, 2019 and December 31, 2018, we determined, based upon the results of our annual goodwill impairment testing as further described in Note 8, that a triggering event had occurred with respect to certain customer lists contained in the reporting units where goodwill impairment was determined to have occurred, and recorded an impairment charge of $0 million and $0.9 Million respectively. The determination of the fair value of intangible assets requires significant inputs, judgments and estimates. These fair value measurements, and related inputs, are considered to be Level 3 measures under the fair value hierarchy as further described in Note 18. There were no triggering events during the year ended December 31, 2019. Components of intangible assets were as follows, as of December 31:
|  | 2019 |  |  | 2018 |
|  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Gross Carrying |  |  | Amortization and |  |  | Net Carrying |  |  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying |
|  | Amount |  |  | Impairment |  |  | Amount |  |  | Amount |  |  | Amortization |  |  | Amount |
Customer lists |  | $ | 13,563,414 |  |  |  | 9,986,414 |  |  |  | 3,577,000 |  |  |  | 13,563,414 |  |  |  | 7,793,414 |  |  |  | 5,770,000 |
Software |  | $ | 425,064 |  |  |  | 417,843 |  |  |  | 7,221 |  |  |  | 425,064 |  |  |  | 417,028 |  |  |  | 8,036 |
Total intangible assets: |  | $ | 13,988,478 |  |  |  | 10,404,257 |  |  |  | 3,584,221 |  |  |  | 13,988,478 |  |  |  | 8,210,442 |  |  |  | 5,778,036 |
Our future amortization schedule is as follows:
Year ending December 31, |  | Amount |
2020 |  |  | 2,075,610 |
2021 |  |  | 1,383,611 |
2022 |  |  | 125,000 |
Total |  | $ | 3,584,221 |

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