GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

GOODWILL AND INTANGIBLE ASSETS

Schedule of Goodwill

Changes in the carrying amount of goodwill were:

	As of December 31,
	2019		2018
Goodwill	8,248,107	$	—
Acquisitions/(Impairment)	—		8,248,107
Total goodwill	8,248,107	$	8,248,107

Schedule of Definite-Lived Assets

	As of December 31, 2019
	Gross		Accumulated		Net Carrying
	Amount		Amortization		Amount
Trade name	$	1,169,000	$	(126,642)	$	1,042,358
Existing technology (1)		558,961		(98,884)		460,077
Non-competition agreements		125,000		(45,139)		79,861
Customer relationships		740,000		(80,167)		659,833
Software		225,000		—		225,000
Licensing agreement		210,000		—		210,000
Total	$	3,027,961	$	(350,832)	$	2,677,129
	As of December 31, 2018
	Gross		Accumulated		Net Carrying
	Amount		Amortization		Amount
Trade name	$	1,169,000	$	(9,742)	$	1,159,258
Existing technology		297,000		(4,950)		292,050
Non-competition agreements		125,000		(3,472)		121,528
Customer relationships		740,000		(6,167)		733,833
Software		225,000		—		225,000
Total	$	2,556,000	$	(24,331)	$	2,531,669

Includes capitalized software development costs and acquired technologies from the VirBELA asset purchase.

Schedule of Definite-Lived Future Amortization Expense

Expected amortization
2020		506,787
2021		740,072
2022		193,829
2023		297,850
2024 and thereafter		938,591
Total	$	2,677,129