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Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Note 12. Goodwill and Intangible Assets, Net

The following table sets for the changes in the carrying amount of the Company’ Goodwill for the year ended December 31, 2021

Summary of Changes in Goodwill

		2021
Balance, January 1		$	-
Acquisitions of Submersible Systems, Inc.			249,986
Balance, December 31		$	249,986

The following table sets for the components of the Company’s intangible assets at December 31, 2021:

Summary of Intangible Assets

		Amortization Period (Years)				Cost				Accumulated Amortization				Net Book Value

Intangible Assets Subject to amortization
Trademarks			15			$	121,000			$	(2,628	)		$	118,372
Customer Relationships			10				600,000				(20,000	)			580,000
Non-Compete Agreements			5				22,000				(1,467	)			20,533
Total						$	743,000			$	(24,095	)		$	718,905

The aggregate amortization remaining on the intangible assets as of December 31, 2021 is a follows:

		Intangible Amortization
2022			72,467
2023			72,467
2024			72,467
2025			72,467
Thereafter			429,037
Total		$	718,905