GOODWILL

3 Months Ended

Mar. 31, 2024

GOODWILL

GOODWILL

NOTE 5 — GOODWILL

The following table summarizes the details of the Company’s changes in goodwill:

	March 31,		December 31,
	2024		2023
Consumer
Opening balance	$	300,000	$	-
Additions/(reductions) (1)		-		300,000
Sub-total		300,000		300,000
Commercial
Opening balance		3,621,453		3,621,453
Additions/(reductions)		-		-
Sub-total		3,621,453		3,621,453
	$	3,921,453	$	3,921,453

(1) The increase in goodwill of $300 thousand for the year ended December 31, 2023 relates to the Company’s acquisition of Steven Kretchmer, Inc. on September 12, 2023 (“Kretchmer Transaction”). The Kretchmer Transaction remains within the measurement period of ASC 805, Business Combinations. The measurement period is the period after the acquisition date during which the acquirer may adjust the provisional amounts recognized for a business combination.