Annual report pursuant to Section 13 and 15(d)

Intangible Assets and Goodwill

v3.22.1
Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2021
Intangible Assets and Goodwill [Abstract]  
INTANGIBLE ASSETS AND GOODWILL

NOTE 7 - INTANGIBLE ASSETS AND GOODWILL

 

On December 31, 2021 and 2020, intangible assets, which were acquired from Mobile Tint in 2021 (See Note 3), consisted of the following:

 

    Useful life     December 31,
2021		     December 31,
2020		  
Customer relations     5 years     $ 212,516     $
           -
  
Non-compete     5 years       40,000      
-
  
Trade name     -       100,000      
-
  
              352,516      
-
  
Less: accumulated amortization             (22,095 )    
-
  
Intangible assets, net           $ 330,421     $
-
  

 

    Useful life   December 31,
2021		     December 31,
2020		  
Goodwill   -   $ 350,491     $
          -
  

 

For the year ended December 31, 2021 and 2020, amortization of intangible assets amounted to $22,095 and $0, respectively. On December 31, 2021, accumulated amortization amounted to $18,595 and $3,500 for the customer relations and non-compete, respectively.

 

Amortization of intangible assets with identifiable useful lives that is attributable to future periods is as follows:

 

Year ending December 31:   Amount  
2022   $ 50,503  
2023     50,503  
2024     50,503  
2025     50,503  
2026     28,409  
Total   $ 230,421