| Goodwill and Intangible Assets |
Note
4 - Goodwill and Intangible Assets
Goodwill
and intangible assets consisted of the following:
| |
|
|
|
|
March
31, 2018 |
|
| |
|
|
Estimated
life
in years |
|
|
|
Gross
Amount |
|
|
|
Accumulated
Amortization |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Goodwill |
|
|
Indefinite |
|
|
$ |
3,015,700 |
|
|
|
N/A |
|
| Intangible
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
| Intangible
assets not subject to amortization |
|
|
|
|
|
|
|
|
|
|
|
|
| Trademarks |
|
|
Indefinite |
|
|
|
294,268 |
|
|
|
N/A |
|
| Intangible
assets subject to amortization |
|
|
|
|
|
|
|
|
|
|
|
|
| Customer
list |
|
|
5 - 15 |
|
|
|
897,274 |
|
|
|
897,274 |
|
| ABC
Acquired contracts |
|
|
5 |
|
|
|
310,000 |
|
|
|
87,834 |
|
| SIAS
Acquired contracts |
|
|
5 |
|
|
|
660,000 |
|
|
|
187,000 |
|
| Non-compete
agreements |
|
|
3 - 4 |
|
|
|
272,147 |
|
|
|
266,869 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Intangible Assets |
|
|
|
|
|
|
2,433,689 |
|
|
|
1,438,977 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Goodwill and Intangible Assets |
|
|
|
|
|
$ |
5,449,389 |
|
|
$ |
1,438,977 |
|
Scheduled
amortization over the next three years as follows:
| For
the Twelve Months ending March 31, |
|
|
|
|
| 2019 |
|
|
$ |
197,334 |
|
| 2020 |
|
|
|
195,944 |
|
| 2021 |
|
|
|
194,000 |
|
| 2022 |
|
|
|
113,166 |
|
| Total |
|
|
$ |
700,444 |
|
Amortization
expense for the nine months ended March 31, 2018 and 2017 was $49,334 and $8,492, respectively.
|