INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL)

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL)

NOTE 4 – INTANGIBLE ASSETS, NET (OTHER THAN GOODWILL)

The Company’s intangible assets consist of intellectual property acquired from MultiPay and FIN and are amortized over their estimated useful lives as indicated below. The following is a summary of activity related to intangible assets for the six months ended June 30, 2019:

				Acquired and
	Customer			Developed			Intellectual						Patents
	Relationships			Software			Property			Non-Compete			Pending		Total
Useful Lives		10 Years			5 Years			10 Years			10 Years			N/A
Carrying Value at December 31, 2018	$	1,128,734		$	908,893		$	1,191,942		$	2,433		$	78,182	$	3,310,184
Additions					764,739									6,167		770,906
Amortization		(79,358	)		(114,655	)		(87,264	)		(1,217	)		—		(282,493	)
Carrying Value at June 30,2019	$	1,049,376		$	1,558,977		$	1,104,678		$	1,216		$	84,349	$	3,798,597

The following is a summary of intangible assets as of June 30, 2019:

				Acquired and
	Customer			Developed			Intellectual						Patents
	Relationships			Software			Property			Non-Compete			Pending		Total
Cost	$	1,587,159		$	1,724,621		$	1,759,809		$	14,087		$	84,349	$	5,170,025
Accumulated amortization		(537,782	)		(165,644	)		(655,131	)		(12,871	)		—		(1,371,428	)
Carrying Value at June 30,2019	$	1,049,377		$	1,558,977		$	1,104,678		$	1,216		$	84,349	$	3,798,597

Future expected amortization of intangible assets is as follows:

Fiscal Year Ending December 31,
Remainder of 2019	$	358,948
2020		715,502
2021		715,502
2022		622,168
2023		571,180
Thereafter		815,297
	$	3,798,597