Intangible Assets

12 Months Ended

Jul. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

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

	Gross					Net
	Carrying		Accumulated			Carrying
July 31, 2021	Value		Amortization			Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(28,672	)		11,328
Customer relationships, 7 years		1,480,000		(698,934	)		781,066
Customer relationships 7 years		5,310,000		(611,786	)		4,698,214
Trademarks, 7 years		2,870,000		(307,500	)		2,562,500
Non-compete, 2 & 3 years		291,000		(97,500	)		193,500
Marketing & Non-compete, 5 years		800,000		(520,000	)		280,000
Total Define-lived Assets		10,941,000		(2,414,392	)		8,526,608
Goodwill, Indefinite		3,931,298		-			3,931,298
Balance, July 31, 2021	$	14,872,298	$	(2,414,392	)	$	12,457,906

	Gross					Net
	Carrying		Accumulated			Carrying
July 31, 2020	Value		Amortization			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

Total amortization expense for the year ended July 31, 2021, and 2020 was $1,396,214 and $379,429, respectively.