INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2021

INTANGIBLE ASSETS, NET [Abstract]

INTANGIBLE ASSETS, NET

Note 8
INTANGIBLE ASSETS, NET

The following table summarizes the Company’s intangible assets as of December 31, 2021:

	Estimated Useful Life (Years)		Gross Carrying Amount at March 2, 2021		Accumulated Amortization			Net Book Value at December 31, 2021
Customer Relationships		5	$	5,269,000	$	(872,501	)	$	4,396,499
Software Technology		2		1,170,000		(484,355	)		685,645
Software Technology		7		4,109,000		(486,011	)		3,622,989
Tradenames and Trademarks		8		386,000		(39,949	)		346,051
			$	10,934,000	$	(1,882,816	)	$	9,051,184

The Company uses the straight-line method to determine the amortization expense for its definite lived intangible assets. Amortization expense related to the purchased intangible assets was $1,882,816 and $0 for the years ended December 31, 2021 and 2020, respectively.

The estimated future amortization expense for the next five years and thereafter is as follows:

Years Ending December 31,	Future amortization expense
2022	$	2,274,050
2023		1,789,695
2024		1,689,050
2025		1,689,050
2026		816,549
Thereafter		792,790
Total	$	9,051,184