| Schedule of Goodwill and Finite-lived Intangible Assets, Net |
Goodwill and finite-lived Intangible assets, net consisted of the following at December 31, 2018 and 2017:
|
|
|
2018
|
|
|
2017
|
|
|
Goodwill
|
|
$
|
1,091,000
|
|
|
$
|
1,091,000
|
|
|
Other intangible assets:
|
|
|
|
|
|
|
|
|
|
Patents
|
|
|
13,485,000
|
|
|
|
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
|
|
|
126,015
|
|
|
|
102,968
|
|
|
Other intangible assets, gross
|
|
|
20,551,982
|
|
|
|
20,518,935
|
|
|
Less: accumulated amortization
|
|
|
(11,661,730
|
)
|
|
|
(10,157,126
|
)
|
|
Other intangible assets, net
|
|
|
8,890,252
|
|
|
|
10,361,809
|
|
|
Goodwill and other intangible assets, net
|
|
$
|
9,981,252
|
|
|
$
|
11,452,809
|
|
|
| Schedule of Estimated Amortization Expense |
Estimated amortization expense to be recorded for the twelve months ending 2019 through 2023 and thereafter are as follows:
|
December 31,
|
|
Total
|
|
|
2019
|
|
$
|
1,508,864
|
|
|
2020
|
|
|
1,464,789
|
|
|
2021
|
|
|
1,399,287
|
|
|
2022
|
|
|
1,108,412
|
|
|
2023
|
|
|
252,930
|
|
|
Thereafter
|
|
|
3,155,970
|
|
|
Total amortization
|
|
$
|
8,890,252
|
|
|