GOODWILL

9 Months Ended

Sep. 30, 2020

Intangible Assets, Net (Including Goodwill) [Abstract]

GOODWILL

8. GOODWILL

The Company’s goodwill relates to the acquisition of a controlling interest in Microphase on June 2, 2017 and the acquisition of Enertec on May 22, 2018. The following table summarizes the changes in our goodwill during the nine months ended September 30, 2020:

	Goodwill
Balance as of January 1, 2020	$	8,100,947
Effect of exchange rate changes		21,490
Balance as of September 30, 2020	$	8,122,437