Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 7 – GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets at December 31, 2019 and 2018 were as follows:

	December 31,
	2019			2018
Medical database	$	1,230,000		$	—
Website		41,000			—
Total intangible assets		1,271,000			—
Less: accumulated amortization		(5,908	)		—
Intangible assets, net		1,265,092
Plus: goodwill		71,866
Goodwill and intangible assets, net	$	1,336,958		$	—

Goodwill and intangible assets arose from the acquisition of NCFM in April 2019. The medical database is assumed to have an indefinite life and is not amortized. The website is being amortized on a straight-line basis over its estimated useful life of five years. Goodwill represents the excess of consideration transferred over the fair value of the net identifiable assets acquired related to the acquisition of NCFM.

Amortization expense in the years ended December 31, 2019 and 2018 was $5,908 and $-0-, respectively. No impairment charges were recognized related to goodwill and intangible assets in the years ended December 31, 2019 or 2018.