Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)

v3.19.1
GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)
12 Months Ended
Dec. 31, 2018
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, 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