Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill

v3.22.1
Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2021
Intangible Assets and Goodwill [Abstract]
INTANGIBLE ASSETS AND GOODWILL

NOTE 7 - INTANGIBLE ASSETS AND GOODWILL

On December 31, 2021 and 2020, intangible assets, which were acquired from Mobile Tint in 2021 (See Note 3), consisted of the following:

Useful life December 31,
2021		 December 31,
2020
Customer relations 5 years $ 212,516 $
-
Non-compete 5 years 40,000
-
Trade name - 100,000
-
352,516
-
Less: accumulated amortization (22,095 )
-
Intangible assets, net $ 330,421 $
-

Useful life December 31,
2021		 December 31,
2020
Goodwill - $ 350,491 $
-

For the year ended December 31, 2021 and 2020, amortization of intangible assets amounted to $22,095 and $0, respectively. On December 31, 2021, accumulated amortization amounted to $18,595 and $3,500 for the customer relations and non-compete, respectively.

Amortization of intangible assets with identifiable useful lives that is attributable to future periods is as follows:

Year ending December 31: Amount
2022 $ 50,503
2023 50,503
2024 50,503
2025 50,503
2026 28,409
Total $ 230,421