General form of registration statement for all companies including face-amount certificate companies

Intangible Assets

v3.21.2
Intangible Assets
 9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 7 - INTANGIBLE ASSETS

 

On September 30, 2021 and December 31, 2020, intangible asset consisted of the following:

 

    Useful life   September 30, 2021     December 31, 2020  
Customer relations   5 years   $ 550,798      
    -
  
Less: accumulated amortization         (20,655 )    
-
  
        $ 530,143     $
-
  

 

For the nine months ended September 30, 2021 and 2020, amortization of intangible assets amounted to $20,655 and $0, respectively.

Amortization of intangible assets attributable to future periods is as follows:

 

Year ending September 30:   Amount  
2022   $ 110,160  
2023     110,160  
2024     110,160  
2025     110,160  
2026     89,503  
    $ 530,143