Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

 

As of June 30, 2019 the Company has the following amounts related to intangible assets:

 

    Gross Carrying Amount     Accumulated Amortization  
Amortizable of intangible assets            
Customer relationship asset   $ 1,006,840     $ (363,582 )
Indefinite lived intangible assets                
Purchased licenses     200,000       -  
    $ 1,206,840     $ (363,582 )

 

For the three months ended June 30, 2019, the Company recognized amortization expense of approximately $162,009.

 

As of December 31, 2018 the Company has the following amounts related to intangible assets:

 

    Gross Carrying Amount     Accumulated Amortization  
Amortizable intangible assets            
Customer relationship asset   $ 1,006,840     $ (195,775 )
Indefinite lived intangible assets                
Purchased licenses     200,000       -  
    $ 1,206,840     $ (195,775 )