Intangible Assets

6 Months Ended

Jan. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

Below are summarized changes in intangible assets at January 31, 2022, and July 31, 2021: 

	Gross
	Carrying		Accumulated			Net Carrying
January 31, 2022	Value		Amortization			Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(32,682	)		7,318
Customer relationships, 7 years		1,480,262		(804,651	)		675,611
Customer relationships 7 years		7,688,000		(1,019,643	)		6,668,357
Trademarks, 7 years		4,494,000		(512,410	)		3,981,590
Non-compete, 2 & 3 years		465,000		(162,500	)		302,500
Marketing & Non-compete, 5 years		800,263		(599,986	)		200,277
Total Define-lived Assets		15,117,525		(3,281,872	)		11,835,653
Goodwill, Indefinite		5,273,254		-			5,273,254
Balance, January 31, 2022	$	20,390,779	$	(3,281,872	)	$	17,108,907

	Gross
	Carrying		Accumulated			Net Carrying
July 31, 2021	Value		Amortization			Amount
NetSapiens - license, 10 years	$	150,000	$	(150,000	)	$	-
Customer relationships, 5 years		40,000		(28,672	)		11,328
Customer relationships, 7 years		1,480,000		(698,934	)		781,066
Customer relationships 7 years		5,310,000		(611,786	)		4,698,214
Trademarks, 7 years		2,870,000		(307,500	)		2,562,500
Non-compete, 2 & 3 years		291,000		(97,500	)		193,500
Marketing & Non-compete, 5 years		800,000		(520,000	)		280,000
Total Define-lived Assets		10,941,000		(2,414,392	)		8,526,608
Goodwill, Indefinite		3,931,298		-			3,931,298
Balance, July 31, 2021	$	14,872,298	$	(2,414,392	)	$	12,457,906

Total amortization expense for the six months ended January 31, 2022, and 2021 was $867,480 and $436,715, respectively.