Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

v3.10.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2018 and December 31, 2017:

 

 

 

2018

 

 

2017

 

Goodwill

 

$

1,091,000

 

 

$

1,091,000

 

Finite-lived intangible assets:

 

 

 

 

 

 

 

 

Patents

 

 

13,475,000

 

 

 

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

 

 

109,968

 

 

 

102,968

 

     Other intangible assets, gross

 

 

20,525,935

 

 

 

20,518,935

 

Less: accumulated amortization

 

 

(10,908,590

)

 

 

(10,157,126

)

     Other intangible assets, net

 

 

9,617,345

 

 

 

10,361,809

 

     Goodwill and other intangible assets, net

 

$

10,708,345

 

 

$

11,452,809

 

 

Schedule of Estimated Future Amortization Expense

Estimated future amortization expense is as follows:

 

Twelve months Ending June 30,

 

Total

 

2019

 

$

1,501,207

 

2020

 

 

1,492,626

 

2021

 

 

1,411,884

 

2022

 

 

1,390,947

 

2023

 

 

537,231

 

Thereafter

 

 

3,283,450

 

Total amortization

 

$

9,617,345