Intangible Assets

3 Months Ended

Oct. 31, 2018

Intangible Assets [Abstract]

INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

Below are summarized changes in intangible assets at October 31, 2018 and July 31, 2018:

	Gross Carrying		Accumulated			Net Carrying
October 31, 2018	Value		Amortization			Amount
NetSapeins - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(6,666	)		33,334
Customer relationships, 7 years		1,480,000		(117,510	)		1,362,490
Marketing & Non-compete, 5 years		800,000		(80,000	)		720,000
Total Define-lived Assets		2,470,000		(354,176	)		2,115,824
Goodwill, Indefinite		834,828		-			834,828
Balance, October 31, 2018	$	3,304,828	$	(354,176	)	$	2,950,652

	Gross Carrying		Accumulated			Net Carrying
July 31, 2018	Value		Amortization			Amount
NetSapeins - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(4,667	)		35,333
Customer relationships, 7 years		1,480,000		(64,652	)		1,415,348
Marketing & Non-compete, 5 years		800,000		(40,000	)		760,000
Total Define-lived Assets		2,470,000		(259,319	)		2,210,681
Goodwill, Indefinite		834,828		-			834,828
Balance, July 31, 2018	$	3,304,828	$	(259,319	)	$	3,045,509

Total amortization expense for the periods ended October 31, 2018 and 2017 was approximately $94,857 and $3,750, respectively. Additional details on intangible assets are disclosed in the Company’s Form 10-K filed on November 16, 2018.