Goodwill

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2019, are as follows:

	Year Ended December 31,
	2020		2019
Opening balance	$	1,367,109	$	-
Additions		-		1,367,109
Acquisition adjustment		-		-
Impairment adjustment		-		-
Goodwill	$	1,367,109	$	1,367,109

Our 2019 acquisition of the assets of the Echo Legacy Entities resulted in the addition to our goodwill balance in 2019. The Company’s goodwill is related to the ECHG segment only and not the whole Company. We evaluate goodwill for impairment annually in the fourth quarter, or when there is reason to believe that the value has been diminished or impaired. Based on the Company’s evaluations, no impairment was required as of December 31, 2020 and 2019.