Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net (Details - Intangibles)

v3.21.2
Goodwill and Intangible Assets, Net (Details - Intangibles) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Indefinite-lived Intangible Assets [Line Items]          
Intangible assets $ 10,063,859   $ 10,063,859   $ 428,859
Foreign Currency Translation Adjustment 89,202   89,202   0
Less Accumulated Amortization (634,292)   (634,292)   (400,165)
Net Intangible Assets 9,518,769   9,518,769   28,694
Amortization expense 553,562 $ 185,748 658,369 $ 292,363  
Trademarks Product Other [Member]          
Indefinite-lived Intangible Assets [Line Items]          
Amortization expense 8,276 10,847 11,131 $ 21,638  
Customer Relationships [Member]          
Indefinite-lived Intangible Assets [Line Items]          
Amortization expense 129,277 $ 214,610 129,277    
Noncompete Agreements [Member]          
Indefinite-lived Intangible Assets [Line Items]          
Amortization expense     214,610    
Trademarks [Member]          
Indefinite-lived Intangible Assets [Line Items]          
Intangible assets [1] 129,831   129,831   129,831
Trade Names [Member]          
Indefinite-lived Intangible Assets [Line Items]          
Intangible assets [2] 3,430,000   3,430,000   0
Customer Relationships [Member]          
Indefinite-lived Intangible Assets [Line Items]          
Intangible assets [3] 6,140,000   6,140,000   0
Noncompete Agreements [Member]          
Indefinite-lived Intangible Assets [Line Items]          
Intangible assets [4] 60,000   60,000   0
Other Intangible Assets [Member]          
Indefinite-lived Intangible Assets [Line Items]          
Intangible assets [1] $ 304,028   $ 304,028   $ 299,028
[1] Pursuant to FASB ASC 350-30-35, the Company reviews these intangible assets periodically to determine if the value should be retired or impaired due to recent events. During the three months ended June 30, 2021 and June 30, 2020, the Company recognized, $8,276 and $10,847, respectively, in amortization expense related to the Trademarks, Product Masters, and Other Intangible Assets. During the six months ended June 30, 2021 and June 30, 2020, the Company recognized, $11,131 and $21,638, respectively, in amortization expense related to the Trademarks, Product Masters, and Other Intangible Assets. 
[2] Amount represents fair value of the ChizComm and ChizComm Beacon Media Trade Names which have been determined to have an indefinite useful life.
[3] Amount represents fair value of the ChizComm and ChizComm Beacon Media Customer Relationships with a useful life of 12 years. Amortization expense for the three and six months ended June 30, 2021 was $129,277 and $214,610, respectively.
[4] Amount represents fair value of the Non-Compete agreements as part of the ChizComm acquisition. The Non-Compete agreements have a useful life of 3 years. Amortization expense for the three and six months ended June 30, 2021 was $5,053 and $8,386, respectively.