Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

v3.20.2
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Other Intangible Assets, Net Other intangible assets, net consisted of the following at:

 

 

 

June 30,

 

 

December 31,

 

 

 

2020

 

 

2019

 

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

 

 

183,415

 

 

 

183,415

 

Other intangible assets, gross

 

 

20,609,382

 

 

 

20,609,382

 

Less: accumulated amortization

 

 

(13,935,157

)

 

 

(13,178,739

)

Other intangible assets, net

 

$

6,674,225

 

 

$

7,430,643

 

 

Schedule of Estimated Future Amortization Expense

Estimated future amortization expense is as follows:

 

Twelve Months Ending June 30,

 

Total

 

2021

 

$

1,438,174

 

2022

 

 

1,412,297

 

2023

 

 

541,135

 

2024

 

 

252,930

 

2025

 

 

252,930

 

Thereafter

 

 

2,776,759

 

Total amortization

 

$

6,674,225