Note 5 - Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

5.

     GOODWILL AND OTHER INTANGIBLE ASSETS

Intangible assets relate to the purchase of businesses. Goodwill represents the excess of cost over the fair value of identifiable assets acquired. Goodwill is

not

amortized, but is reviewed on an annual basis for impairment. Amortization of other intangible assets is calculated on a straight-line basis over periods ranging from

one

year to

15

years. Intangible assets consist of the following:

	December 31, 2019		December 31, 2018
Customer Intangibles	$	4,970,000	$	4,970,000
Non-Compete Agreements		200,000		200,000
Trademarks		340,000		340,000
Total Other Intangibles		5,510,000		5,510,000
Less: Accumulated Amortization		1,559,162		1,177,798
Other Intangibles, Net	$	3,950,838	$	4,332,202

Intangible amortization expense was as follows:

	December 31, 2019		December 31, 2018
Accumulated amortization at the beginning of the period	$	1,177,798	$	613,601
Amortization expense		381,364		564,197
Accumulated amortization at end of period	$	1,559,162	$	1,177,798

Intangible amortization for the next

five

years is as follows:

	Amortization in future periods
2020	$	379,030
2021		379,030
2022		355,697
2023		339,030
2024		339,030