Intangible Assets

6 Months Ended

Jan. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

Below are summarized changes in intangible assets at January 31, 2021 and July 31, 2020:

Total amortization expense for the six months ended January 31, 2021 and 2020 was $436,715 and $189,714, respectively.

January 31, 2021	Gross Carrying Value		Accumulated Amortization			Net Carrying Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(24,672	)		15,328
Customer relationships, 7 years		1,480,000		(593,219	)		886,781
Customer relationships 7 years		5,710,000		(142,750	)		5,567,250
Trademarks, 7 years		2,870,000		(71,750	)		2,798,250
Non-compete, 2 & 3 years		290,000		(32,500	)		257,500
Marketing & Non-compete, 5 years		800,000		(440,000	)		360,000
Total Define-lived Assets		11,340,000		(1,454,891	)		9,885,109
Goodwill, Indefinite		3,512,533		-			3,512,533
Balance, January 31, 2021	$	14,852,533	$	(1,454,891	)	$	13,397,642

July 31, 2020	Gross Carrying Value		Accumulated Amortization			Net Carrying Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(20,672	)		19,328
Customer relationships, 7 years		1,480,000		(487,505	)		992,495
Marketing & Non-compete, 5 years		800,000		(360,000	)		440,000
Total Define-lived Assets		2,470,000		(1,018,177	)		1,451,823
Goodwill, Indefinite		810,353		-			810,353
Balance, July 31, 2020	$	3,280,353	$	(1,018,177	)	$	2,262,176