Goodwill and Intangible Assets |
9 Months Ended |
|---|---|
Sep. 30, 2021 | |
| Goodwill and Intangible Assets [Abstract] | |
| Goodwill and Intangible Assets | NOTE 8 – GOODWILL AND INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the year ended December 31, 2020 and nine months ended September 30, 2021 by company are as follows: Ecessa IVDesk TotalJanuary 1, 2020 $ — $ — $ — Acquisition 1,341,000 745,000 2,086,000 December 31, 2020 $ 1,341,000 $ 745,000 $ 2,086,000 September 30, 2021 $ 1,341,000 $ 745,000 $ 2,086,000 Gross goodwill 1,341,000 745,000 2,086,000Accumulated impairment loss — — —Balance at September 30, 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: September 30, 2021 Gross Carrying Amount Accumulated Amortization NetTrade Name/Trademark/Internet Domain Assets $ 101,000 $ (12,000) $ 89,000Non-compete Agreements 80,000 (36,000) 44,000Customer Relationships 1,010,000 (160,000) 850,000Internally Developed Software 1,800,000 (342,000) 1,458,000 $ 2,991,000 $ (550,000) $ 2,441,000 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 $346,000 and $106,000 in first nine months of 2021 and 2020 respectively. The amortization expense is included in selling, general and administrative expenses. The estimated future amortization expense for identifiable intangible assets during the next five fiscal years is as follows: Year Ending December 31: Q4 2021 $ 111,0002022 442,0002023 426,0002024 415,0002025 381,000Thereafter 666,000 |