Acquisition and Intangible Assets

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Acquisitions and Intangible Assets

The Company holds several patents for the real-time calculation of shipping costs for items purchased through online auctions using a zip code as a destination location indicator. It includes shipping charge calculations across multiple carriers and accounts for additional characteristics of the item being shipped, such as weight, special packaging or handling, and insurance costs. These patents help facilitate rapid and accurate estimation of shipping costs across multiple shipping carriers and also include real-time calculation of shipping.

In addition, the Company has various other intangibles from past business combinations.

At March 31, 2020 and December 31, 2019, intangible assets consisted of the following:

	March 31, 2020	December 31, 2019
Patents	$16,000	$16,000
Software	83,750	83,750
Trade name	754,219	826,098
Technology	481,677	527,583
Client list / relationship	4,447,590	4,851,093
Accumulated amortization	(2,195,212)	(2,255,952)
	$3,588,024	$4,048,572

Amortization expense of intangible assets for the three months ended March 31, 2020 and 2019 was $114,543 and $120,127, respectively.