Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets-Net (Tables)

v3.19.1
Goodwill and Intangible Assets-Net (Tables)
 3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill

The following is the summary of the changes to the carrying amount of goodwill for the three months ended March 31, 2019 and the year ended December 31, 2018:

 

    March 31, 2019     December 31, 2018  
Beginning gross balance   $ 12,593,795     $ 12,263,943  
Acquisition     -       329,852  
Ending gross balance   $ 12,593,795     $ 12,593,795  

Schedule of Finite-Lived Intangible Assets

Intangible assets - net as of March 31, 2019 and December 31, 2018 consist of the following:

 

    March 31, 2019     December 31, 2018  
Contracts and relationships acquired   $ 22,741,300     $ 22,741,300  
Non-compete agreements     1,236,377       1,236,377  
Other intangible assets     1,472,306       1,477,059  
Total intangible assets     25,449,983       25,454,736  
Less: Accumulated amortization     (19,366,467 )     (18,820,733 )
Intangible assets - net   $ 6,083,516     $ 6,634,003  

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of March 31, 2019, future amortization scheduled to be expensed is as follows:

 

Years ending December 31      
2019 (nine months)   $ 1,275,112  
2020     1,009,741  
2021     937,302  
2022     611,361  
2023     300,000  
Thereafter     1,950,000  
Total   $ 6,083,516