INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

4.     INTANGIBLE ASSETS, NET

Intangible assets consist of the following: 

	December 31, 2021		December 31, 2020
Patents and trademarks	$	38,186	$	38,186
Platform		9,853,823		7,478,419
Customer lists and contracts		1,177,200		1,177,200
Licenses		209,282		234,282
		11,278,490		8,928,087
Less: accumulated amortization		7,191,529		5,229,054
Intangible assets, net	$	4,086,962	$	3,699,033

Amortization expense for the year ended December 31, 2021 and 2020 was $1,963,169 and $1,696,329, respectively. During 2020, the Company reviewed the carrying value of acquisition costs related to a business license and determined that there was an impairment necessary due to the fact that the efforts to acquire the license had been suspended. As the impairment was deemed other than temporary, an impairment of $382,414 was recorded during the third quarter of 2020.

Estimated future amortization expense is as follows: 

2022	$	1,939,949
2023		1,367,600
2024		682,733
2025		23,440
2026		8,986
Thereafter		64,254
Total amortization expense	$	4,086,962