Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 4 – 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 March 31, 2021, was $634,252.

	March 31, 2021			December 31, 2020
Customer Lists	$	1,135,962		$	1,135,962
Software		2,407,001			2,407,001
ETC License		634,251			634,251
Less: Amortization		(2,941,214	)		(2,740,629	)
Net Amortizable Intangibles		1,236,000			1,436,585
Right of Use Assets – net		237,001			80,578
Intangible Assets net	$	1,473,001		$	1,517,163

Amortization expense amounted to $200,583 for the three months ended March 31, 2021, and 2020, 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:

2021	$	802,333
2022	$	433,669