Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Note 12. Goodwill and Intangible Assets, Net

The following table sets forth the changes in the carrying amount of the Company’ Goodwill for the years ended December 31, 2022 and 2021:

	2022		2021
Balance, January 1	$	249,986	$	-
Acquisitions of Submersible Systems, Inc.		-		249,986
Balance, December 31	$	249,986	$	249,986

The following table sets forth the components of the Company’s intangible assets at December 31, 2022:

	Amortization Period (Years)		Cost		Accumulated Amortization			Net Book Value
Intangible Assets Subject to amortization
Trademarks		15	$	121,000	$	(10,712	)	$	112,299
Customer Relationships		10		600,000		(80,000	)		520,000
Non-Compete Agreements		5		22,000		(5,867	)		16,133
Total			$	743,000	$	(96,622	)	$	646,422

The aggregate amortization remaining on the intangible assets as of December 31, 2022 is a follows:

	Intangible Amortization
2023	$	72,467
2024		72,467
2025		72,467
2026		71,367
Thereafter		357,654
Total	$	646,422