| SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS |
Intangible
assets as of March 31, 2022 and December 31, 2021
consisted of the following:
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS
| |
|
March 31, 2022 |
|
| |
|
Cost |
|
|
Accumulated Amortization |
|
|
Net Book Value |
|
| Finite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
| Customer relationships |
|
|
834,100 |
|
|
|
79,438 |
|
|
|
754,662 |
|
| Trademarks and trade names |
|
|
499,000 |
|
|
|
66,533 |
|
|
|
432,467 |
|
| Backlog and Other |
|
|
445,837 |
|
|
|
292,568 |
|
|
|
153,269 |
|
| Total finite-lived intangible assets: |
|
|
1,778,937 |
|
|
|
438,539 |
|
|
|
1,340,398 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
| Patents |
|
|
44,276 |
|
|
|
- |
|
|
|
44,276 |
|
| Trade name |
|
|
28,291 |
|
|
|
- |
|
|
|
28,291 |
|
| Total Intangible assets, net |
|
|
1,851,504 |
|
|
|
438,539 |
|
|
|
1,412,965 |
|
| |
|
December 31, 2021 |
|
| |
|
Cost |
|
|
Accumulated Amortization |
|
|
Net Book Value |
|
| Customer relationships |
|
|
834,100 |
|
|
|
49,649 |
|
|
|
784,451 |
|
| Trademarks and trade names |
|
|
499,000 |
|
|
|
41,583 |
|
|
|
457,417 |
|
| Backlog and Other |
|
|
518,404 |
|
|
|
184,806 |
|
|
|
333,598 |
|
| |
|
|
1,851,504 |
|
|
|
276,039 |
|
|
|
1,575,466 |
|
|
| SCHEDULE OF FUTURE AMORTIZATION EXPENSES OF INTANGIBLE ASSETS |
The
estimated future amortization expense for intangible assets subject to amortization as of March 31, 2022, is summarized below:
SCHEDULE OF FUTURE AMORTIZATION EXPENSES OF INTANGIBLE ASSETS
| |
|
Estimated Future |
|
|
|
Amortization Expense |
|
| Remainder of 2022 |
|
|
308,584 |
|
| 2023 |
|
|
220,601 |
|
| 2024 |
|
|
220,601 |
|
| 2025 |
|
|
220,464 |
|
| Thereafter |
|
|
370,148 |
|
| Total |
|
|
1,340,398 |
|
|