Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

v3.19.2
GOODWILL AND OTHER INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill. A goodwill balance of $1,091,000 was created as a result of an asset acquisition completed in October 2011 from Prime Table Games, LLC.

Other intangible assets, net. Other intangible assets, net consisted of the following at June 30, 2019 and December 31, 2018:

 

 

 

2019

 

 

2018

 

Patents

 

$

13,485,000

 

 

$

13,485,000

 

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

 

 

153,415

 

 

 

126,015

 

Other intangible assets, gross

 

 

20,579,382

 

 

 

20,551,982

 

Less: accumulated amortization

 

 

(12,416,990

)

 

 

(11,661,730

)

Other intangible assets, net

 

$

8,162,392

 

 

$

8,890,252

 

 

For the six months ended June 30, 2019 and 2018, amortization expense related to the other intangible assets was $755,260 and $751,464, respectively.

Estimated future amortization expense is as follows:

 

Twelve Months Ending June 30,

 

Total

 

2020

 

$

1,509,416

 

2021

 

 

1,428,674

 

2022

 

 

1,403,297

 

2023

 

 

538,385

 

2024

 

 

252,930

 

Thereafter

 

 

3,029,690

 

Total amortization

 

$

8,162,392