Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets-Net (Tables)

v3.19.3
Goodwill and Intangible Assets-Net (Tables)
 9 Months Ended
Sep. 30, 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 nine months ended September 30, 2019 and the year ended December 31, 2018:

 

    Nine Months Ended     Year Ended  
    September 30, 2019     December 31, 2018  
Beginning gross balance   $ 12,593,795     $ 12,263,943  
Acquisitions     39,901       329,852  
Ending gross balance   $ 12,633,696     $ 12,593,795  
Schedule of Finite-Lived Intangible Assets

Intangible assets - net as of September 30, 2019 and December 31, 2018 consist of the following:

 

    September 30, 2019     December 31, 2018  
Contracts and relationships acquired   $ 23,597,300     $ 22,741,300  
Non-compete agreements     1,236,377       1,236,377  
Other intangible assets     1,852,852       1,477,059  
Total intangible assets     26,686,529       25,454,736  
Less: Accumulated amortization     20,521,256       18,820,733  
Intangible assets - net   $ 6,165,273     $ 6,634,003  

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of September 30, 2019, future amortization scheduled to be expensed is as follows:

 

Years ending      
December 31      
2019 (three months)   $ 387,892  
2020     1,380,325  
2021     1,235,554  
2022     872,973  
2023     338,529  
Thereafter     1,950,000  
Total   $ 6,165,273