| Schedule of Goodwill and Finite-lived Intangible Assets, Net |
Goodwill and finite-lived intangible assets, net consisted of the following at September 30, 2017 and December 31, 2016:
|
|
|
2017
|
|
|
2016
|
|
|
Goodwill
|
|
$
|
1,091,000
|
|
|
$
|
1,091,000
|
|
|
Finite-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
Patents
|
|
|
13,615,967
|
|
|
|
13,615,967
|
|
|
Customer relationships
|
|
|
3,400,000
|
|
|
|
3,400,000
|
|
|
Trademarks
|
|
|
2,740,000
|
|
|
|
2,740,000
|
|
|
Non-compete agreements
|
|
|
660,000
|
|
|
|
660,000
|
|
|
Internally-developed software
|
|
|
102,968
|
|
|
|
—
|
|
|
Other intangible assets, gross
|
|
|
20,518,935
|
|
|
|
20,415,967
|
|
|
Less: accumulated amortization
|
|
|
(9,784,930
|
)
|
|
|
(8,660,948
|
)
|
|
Other intangible assets, net
|
|
|
10,734,005
|
|
|
|
11,755,019
|
|
|
Goodwill and other intangible assets, net
|
|
$
|
11,825,005
|
|
|
$
|
12,846,019
|
|
|
| Schedule of Estimated Amortization Expense |
Estimated amortization expense to be recorded for the twelve months ending September 30, 2018 through 2022 and thereafter is as follows:
|
September 30,
|
|
Total
|
|
|
2018
|
|
$
|
1,498,873
|
|
|
2019
|
|
|
1,498,873
|
|
|
2020
|
|
|
1,481,712
|
|
|
2021
|
|
|
1,391,218
|
|
|
2022
|
|
|
1,390,676
|
|
|
Thereafter
|
|
|
3,472,653
|
|
|
Total amortization
|
|
$
|
10,734,005
|
|
|