Intangible Assets
 3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 4 – INTANGIBLE ASSETS

 

In connection with the Purchase Agreement of the Acquisition Companies (see Note 1) goodwill and other intangible assets were acquired. An independent valuation of the intangible assets was completed as of December 31, 2017. The intangible assets other than goodwill are being amortized on a straight line basis over their useful lives.

 

Intangible assets consist of the following:

 

    March 31, 2018     December 31, 2017     Useful Lives
Intangible assets:                    
Goodwill   $ 794,830     $ 794,830      
Customer Relationships     95,000       95,000     10 years
Brand     204,000       204,000     10 years
Technology     530,000       530,000     3 years
Total     1,623,830       1,623,830      
Less: Accumulated amortization     (197,960 )     (146,318 )    
    $ 1,425,870     $ 1,477,512      

 
Amortization expense related to the intangible assets for the period ended March 31, 2018 and 2017 was $51,642 and $0, respectively.