Intangible Assets

9 Months Ended

Apr. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

Below are summarized changes in intangible assets at April 30, 2022, and July 31, 2021:

	Gross Carrying		Accumulated			Net Carrying
April 30, 2022	Value		Amortization			Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(34,682	)		5,318
Customer relationships, 7 years		1,480,262		(857,508	)		622,754
Customer relationships 7 years		15,110,341		(1,601,893	)		13,508,448
Trademarks, 7 years		9,562,916		(873,276	)		8,689,640
Non-compete, 2 & 3 years		2,456,360		(472,920	)		1,983,440
Marketing & Non-compete, 5 years		800,263		(639,985	)		160,278
Total Definite-lived Intangible Assets		29,600,142		(4,630,264	)		24,969,878
Goodwill		8,877,532		-			8,877,532
Balance, April 30, 2022	$	38,477,674	$	(4,630,264	)	$	33,847,410

	Gross Carrying		Accumulated			Net 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 Definite-lived Intangible Assets		10,941,000		(2,414,392	)		8,526,608
Goodwill		3,931,298		-			3,931,298
Balance, July 31, 2021	$	14,872,298	$	(2,414,392	)	$	12,457,906

Total amortization expense for the nine months ended April 30, 2022, and 2021 was $2,215,872 and $962,429, respectively.