XML 68 R33.htm IDEA: XBRL DOCUMENT v3.22.1
Goodwill and Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Changes in Goodwill

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

 

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

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

 

   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 
Schedule of Estimated Intangible Assets Amortization Expenses

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