Goodwill and Indefinite Lived Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Indefinite Lived Intangible Assets

8. Goodwill and Indefinite Lived Intangible Assets

Goodwill
Balance as of December 31, 2019 and 2020	$	2,534,275
Indefinite Lived Intangible Assets
Balance as of December 31, 2019 and 2020	$	770,000

Goodwill relates to the acquisition of ENP Investments. Indefinite lived intangible assets consist of trade secrets and trademarks related to the acquisition of ENP Investments.

Definite Life Intangible Assets
Balance as of December 31, 2018	$	2,358,000
Amortization		(176,000	)
Balance as of December 31, 2019		2,182,000
Amortization		(176,000	)
Balances as of December 31, 2020	$	2,006,000

Definite life intangible assets consist of customer relationships and software related to the acquisition of ENP Investments. Customer relationships and software are amortized over their estimated useful life of 15 years and 3 years, respectively.

Estimated amortization expense over the next five years is as follows:

2021	$	176,000
2022		160,000
2023		160,000
2024		160,000
2025		160,000