Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net (Tables)

v3.21.1
Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2020
Intangible Assets, Net  
Schedule of components of intangible assets, net

Intangible assets, net consisted of the following at the dates indicated:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

 

 

Gross

 

 

    

 

 

    

 

 

 

 

 

 

Carrying

 

 

 

 

Accumulated

 

Net Carrying

 

 

    

Amount

    

Additions

    

Amortization

    

Value

 

Trade names

 

$

 —

 

$

166,000

 

$

(1,383)

 

$

164,617

 

Software development

 

 

499,300

 

 

391,948

 

 

(163,718)

 

 

727,530

  

Other

 

 

 —

 

 

30,000

 

 

 —

 

 

30,000

  

 

 

$

499,300

 

$

587,948

 

$

(165,101)

 

$

922,147

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

Gross

 

 

 

 

 

 

 

 

 

 

 

Carrying

 

 

 

 

Accumulated

 

Net Carrying

 

    

Amount

    

Additions

    

Amortization

    

Value

Software development

 

$

167,820

 

$

331,480

 

$

(34,458)

 

$

464,842

 

 

$

167,820

 

$

331,480

 

$

(34,458)

 

$

464,842

 

Schedule of estimated future amortization expense for definite-lived intangible assets

As of December 31, 2020 the estimated future amortization expense for definite-lived intangible assets will be:

 

 

 

 

 

Years Ended December 31,

    

  

 

2021

 

$

204,850

2022

 

 

204,850

2023

 

 

204,850

2024

 

 

194,850

2025 and thereafter

 

 

112,747

Total

 

 

922,147