Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

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

 

 

Schedule of Estimated Future Amortization Expense

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