Intangible Assets

3 Months Ended

Oct. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

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

	Gross					Net
	Carrying		Accumulated			Carrying
October 31, 2021	Value		Amortization			Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(30,672	)		9,328
Customer relationships, 7 years		1,480,000		(751,791	)		728,209
Customer relationships 7 years		5,310,000		(815,714	)		4,494,286
Trademarks, 7 years		2,870,000		(410,000	)		2,460,000
Non-compete, 2 & 3 years		291,000		(130,000	)		161,000
Marketing & Non-compete, 5 years		800,000		(560,000	)		240,000
Total Define-lived Assets		10,941,000		(2,848,177	)		8,092,823
Goodwill, Indefinite		3,931,298		-			3,931,298
Balance, October 31, 2021	$	14,872,298	$	(2,848,177	)	$	12,024,121

	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

Total amortization expense for the three months ended October 31, 2021, and 2020 was $433,785 and $94,857, respectively.