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GOODWILL AND INTANGIBLE ASSETS
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]    
GOODWILL AND INTANGIBLE ASSETS

8. GOODWILL AND INTANGIBLE ASSETS

 

Goodwill     
Balance as of December 31, 2020  $2,534,275 
Additions   - 
Impairment   - 
Amortization   (176,000)
Balance as of December 31, 2021 and March 31, 2022  $2,534,275 
Indefinite Lived Intangible Assets     
Balance as of December 31, 2020  $770,000 
Additions   - 
Impairment   - 
Amortization   (40,000)
Balance as of December 31, 2021 and March 31, 2022  $770,000 

 

Goodwill relates to the acquisition of ENP Investments. Indefinite lived intangible assets consist of trade secrets and trademarks related to the acquisition of ENP Investments.

 

Definite Life Intangible Assets    
Balance as of December 31, 2020  $2,006,000 
Amortization   (176,000)
Balance as of December 31, 2021   1,830,000 
Amortization   (40,000)
Balance as of March 31, 2022  $1,790,000 

 

Definite life intangible assets consist of customer relationships and software related to the acquisition of ENP Investments. Customer relationships and software are amortized over their estimated useful life of 15 years and 3 years, respectively.

 

Estimated amortization expense over the next five years is as follows:

 

2022  $160,000 
2023   160,000 
2024   160,000 
2025   160,000 
2026   160,000 

 

 

8. Goodwill and Intangible Assets

 

Goodwill     
Balance as of December 31, 2020 and 2021  $2,534,275 
      
Indefinite Lived Intangible Assets     
Balance as of December 31, 2020 and 2021  $770,000 

 

Goodwill relates to the acquisition of ENP Investments. Indefinite lived intangible assets consist of trade secrets and trademarks related to the acquisition of ENP Investments.

 

Definite Life Intangible Assets     
Balance as of December 31, 2019  $2,182,000 
Amortization   (176,000)
Balance as of December 31, 2020   2,006,000 
Amortization   (176,000)
Balances as of December 31, 2021  $1,830,000 

 

Definite life intangible assets consist of customer relationships and software related to the acquisition of ENP Investments. Customer relationships and software are amortized over their estimated useful life of 15 years and 3 years, respectively.

 

Estimated amortization expense over the next five years is as follows:

 

2022  $160,000 
2023   160,000 
2024   160,000 
2025   160,000 
2026   160,000