Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 5 – INTANGIBLE ASSETS

Intangible Assets with definite useful life consist of licenses, customer lists and software that were acquired through acquisitions.

Intangible Assets with indefinite useful life consist of a Lifeline License granted by the FCC.

The Lifeline License, because of the nature of the asset and the limitation on the number of granted licenses by the FCC, will not be amortized. The Lifeline License was acquired through an acquisition. The fair market value of the License as of September 30, 2020, was $634,251.

	September 30, 2020			December 31, 2019
Customer Lists	$	1,135,961		$	1,135,961
Software		2,407,001			2,407,001
License		634,251			634,252
Less: Accumulated Amortization		(2,540,045	)		(1,938,296	)
Intangible Assets, net	$	1,637,168		$	2,238,918

Amortization expense amounted to $601,750 and $677,280 for the nine months ended September 30, 2020, and 2019, respectively; and $200,583 and $225,760 for the three months ended September 30, 2020, and 2019, respectively. Amortization expense is included as a component of operating expenses in the accompanying statements of operations.

Amortization expense is expected to be as follows:

2020	$	802,333
2021	$	200,584