Note 5 - Goodwill and Other Intangible Assets, Net

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

5.

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

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 intangibles is being amortized on a straight-line basis over period ranging from

one

year to

15

years. Intangible assets are as follows:

	September 30, 2020		December 31, 2019
Customer list intangibles	$	7,700,000	$	4,970,000
Non-compete agreements		200,000		200,000
Trademarks		1,930,000		340,000
Total intangible assets		9,830,000		5,510,000
Less: accumulated amortization		2,093,559		1,559,162
Intangible assets, net	$	7,736,441	$	3,950,838

Amortization of intangibles assets was:

$175,715

 and 

$93,592

for the

three

months ended

September 30, 2020

and

2019,

respectively, and

$534,397

 and 

$280,774

for the

nine

months ended

September 30, 2020

and

2019,

respectively.