Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)

v3.8.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill and Finite-lived Intangible Assets, Net

Goodwill and finite-lived Intangible assets, net consisted of the following at December 31, 2017 and 2016:

 

 

 

2017

 

 

2016

 

Goodwill

 

$

1,091,000

 

 

$

1,091,000

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

Patents

 

 

13,475,000

 

 

 

13,475,000

 

Customer relationships

 

 

3,400,000

 

 

 

3,400,000

 

Trademarks

 

 

2,880,967

 

 

 

2,880,967

 

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

 

 

(10,157,126

)

 

 

(8,660,948

)

Other intangible assets, net

 

 

10,361,809

 

 

 

11,755,019

 

Goodwill and other intangible assets, net

 

$

11,452,809

 

 

$

12,846,019

 

 

Schedule of Estimated Amortization Expense

Estimated amortization expense to be recorded for the twelve months ending 2018 through 2022 and thereafter are as follows:

 

December 31,

 

Total

 

2018

 

$

1,498,874

 

2019

 

 

1,498,874

 

2020

 

 

1,454,798

 

2021

 

 

1,391,218

 

2022

 

 

1,106,104

 

Thereafter

 

 

3,411,941

 

Total amortization

 

$

10,361,809