INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

Intangible assets as of June 30, 2021 and December 31, 2020 consists of the following:

	June 30,			December 31,
	2021			2020
Intangible assets subject to amortization
Customer Relationship	$	539,000		$	—
Trade Names		1,156,000			—
Technology and Know How		3,468,000			—
		5,163,000			—
Less: Accumulated amortization		(224,750	)		—
	$	4,938,250		$	—

During the three months ended June 30, 2021 and 2020, the Company recorded total amortization expense related to intangible assets of $134,850 and $0, respectively. During the six months ended June 30, 2021 and 2020, the Company recorded total amortization expense related to intangible assets of $224,750 and $0, respectively. The useful lives of tradenames and technology is 10 years and the useful life of customer relationships is 7 years.