Annual report pursuant to Section 13 and 15(d)

GOODWILL & INTANGIBLE ASSETS (Tables)

v3.23.1
GOODWILL & INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
Intangible assets as of December 31, 2022 and 2021 consisted of the following:
As of December 31, 2022
Cost Accumulated Amortization Net Book Value
Finite-lived intangible assets:
Customer relationships $ 4,212,100  $ (401,997) $ 3,810,103 
Trademarks and trade names 1,778,000  (307,817) 1,470,183 
Backlog and Other 768,113  (626,003) 142,110 
Total finite-lived intangible assets 6,758,213  (1,335,817) 5,422,396 
Indefinite-lived intangible assets:
Trade names 28,291  —  28,291 
Total indefinite-lived intangible assets 28,291  —  28,291 
Total intangible assets, net $ 6,786,504  $ (1,335,817) $ 5,450,687 

As of December 31, 2021
Cost Accumulated Amortization Net Book Value
Finite-lived intangible assets:
Customer relationships $ 834,100  $ (49,649) $ 784,451 
Trademarks and trade names 499,000  (41,583) 457,417 
Backlog and Other 490,113  (184,806) 305,307 
Total finite-lived intangible assets 1,823,213    (276,038)   1,547,175 
Indefinite-lived intangible assets:
Trade names 28,291  —  28,291 
Total indefinite-lived intangible assets 28,291  —  28,291 
Total intangible assets, net $ 1,851,504  $ (276,038) $ 1,575,466 
Schedule of Indefinite-Lived Intangible Assets
Intangible assets as of December 31, 2022 and 2021 consisted of the following:
As of December 31, 2022
Cost Accumulated Amortization Net Book Value
Finite-lived intangible assets:
Customer relationships $ 4,212,100  $ (401,997) $ 3,810,103 
Trademarks and trade names 1,778,000  (307,817) 1,470,183 
Backlog and Other 768,113  (626,003) 142,110 
Total finite-lived intangible assets 6,758,213  (1,335,817) 5,422,396 
Indefinite-lived intangible assets:
Trade names 28,291  —  28,291 
Total indefinite-lived intangible assets 28,291  —  28,291 
Total intangible assets, net $ 6,786,504  $ (1,335,817) $ 5,450,687 

As of December 31, 2021
Cost Accumulated Amortization Net Book Value
Finite-lived intangible assets:
Customer relationships $ 834,100  $ (49,649) $ 784,451 
Trademarks and trade names 499,000  (41,583) 457,417 
Backlog and Other 490,113  (184,806) 305,307 
Total finite-lived intangible assets 1,823,213    (276,038)   1,547,175 
Indefinite-lived intangible assets:
Trade names 28,291  —  28,291 
Total indefinite-lived intangible assets 28,291  —  28,291 
Total intangible assets, net $ 1,851,504  $ (276,038) $ 1,575,466 
Schedule of Future Amortization Expenses of Intangible Assets The estimated future amortization expense for intangible assets subject to amortization at December 31, 2022, is summarized below:
For the years ending December 31,
Estimated Future
Amortization Expense
2023 $ 1,100,461 
2024 957,329 
2025 957,329 
2026 915,745 
2027 691,095 
Thereafter 800,437 
Total estimated future amortization expense $ 5,422,396