Goodwill and Intangible Assets |
12 Months Ended |
|---|---|
Dec. 31, 2021 | |
| Goodwill and Intangible Assets [Abstract] | |
| Goodwill and Intangible Assets | NOTE 9 – GOODWILL AND INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the year ended December 31, 2021 by company are as follows: Ecessa JDL TotalJanuary 1, 2020 $ — $ — $ —Acquisition 1,341,000 745,000 2,086,000December 31, 2020 $ 1,341,000 $ 745,000 $ 2,086,000 December 31, 2021 $ 1,341,000 $ 745,000 $ 2,086,000 Gross goodwill 1,341,000 745,000 2,086,000Accumulated impairment loss — — —Balance at December 31, 2021 $ 1,341,000 $ 745,000 $ 2,086,000 The Company’s identifiable intangible assets with finite lives are being amortized over their estimated useful lives and were as follows: December 31, 2021 Gross Carrying Amount Accumulated Amortization NetTrade Name/Trademark/Internet Domain Assets $ 101,000 $ (15,000) $ 86,000Non-compete Agreements 80,000 (42,000) 38,000Customer Relationships 1,010,000 (197,000) 813,000Internally Developed Software 1,800,000 (407,000) 1,393,000 $ 2,991,000 $ (661,000) $ 2,330,000 December 31, 2020 Gross Carrying Amount Accumulated Amortization NetTrade Name/Trademark/Internet Domain Assets $ 90,000 $ (5,000) $ 85,000Non-compete Agreements 80,000 (16,000) 64,000Customer Relationships 1,010,000 (34,000) 976,000Internally Developed Software 1,800,000 (150,000) 1,650,000 $ 2,980,000 $ (205,000) $ 2,775,000 Amortization expense on these identifiable intangible assets was $457,000 and $205,000 in 2021 and 2020 respectively. The estimated future amortization expense for identifiable intangible assets during the next five fiscal years is as follows: Year Ending December 31: 2022 $ 442,0002023 426,0002024 415,0002025 381,0002026 357,000Thereafter 309,000 |