Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill

v3.22.1
Intangible Assets and Goodwill
 3 Months Ended
Mar. 31, 2022
Intangible Assets and Goodwill [Abstract]
INTANGIBLE ASSETS AND GOODWILL

NOTE 6 - INTANGIBLE ASSETS AND GOODWILL

On March 31, 2022 and December 31, 2021, intangible assets, which were acquired from Mobile in July 2021, consisted of the following:

Useful life March 31,
2022		 December 31,
2021
Customer relations 5 years $ 212,516 $ 212,516
Non-compete 5 years 40,000 40,000
Trade name
-
 100,000 100,000
352,516 352,516
Less: accumulated amortization (34,721 ) (22,095 )
Intangible assets, net $ 317,795 $ 330,421

Useful life March 31,
2022		 December 31,
2021
Goodwill
-
 $ 350,491 $ 350,491

For the three months ended March 31, 2022 and 2021, amortization of intangible assets amounted to $12,626 and $0, respectively. On March 31, 2022, accumulated amortization amounted to $29,221 and $5,500 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:

Twelve months ending March 31: Amount
2023 $ 50,503
2024 50,503
2025 50,503
2026 50,503
2027 15,783
Total $ 217,795