Quarterly report pursuant to Section 13 or 15(d)

Intangible assets, net (Tables)

v3.19.1
Intangible assets, net (Tables)
3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Definite and Indefinite Lived Intangible Assets [Table Text Block]
As of March 31, 2019, intangible assets consisted of the following:
 
 
 
 
 
 
 
Gross

Carrying

Amount
 
 
Accumulated

Amortization
 
 
Net Carrying

Amount
 
Finite lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
 
15 years
 
14.8 years
 
$
4,270,000
 
 
$
126,056
 
 
$
4,143,944
 
Developed technology
 
7 years
 
6.7 years
 
$
3,800,000
 
 
 
290,476
 
 
 
3,509,524
 
Membership network
 
7 years
 
6.7 years
 
$
1,740,000
 
 
 
145,000
 
 
 
1,595,000
 
Non-compete agreements
 
2 years
 
1.7 years
 
$
50,000
 
 
 
14,583
 
 
 
35,417
 
Total
finite
lived intangible assets
 
 
 
 
 
$
9,860,000
 
 
$
576,115
 
 
$
9,283,885
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Indefinite lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trademarks and tradenames
 
Indefinite
 
 
 
$
3,140,000
 
 
$
-
 
 
$
3,140,000
 
Total indefinite lived intangible assets
 
 
 
 
 
$
3,140,000
 
 
$
-
 
 
$
3,140,000
 
Total intangible assets
 
 
 
 
 
 
13,000,000
 
 
$
576,115
 
 
$
12,423,885
 
 
As of December 31, 2018, intangible assets consisted of the following:
 
 
 
 
 
 
 
Gross

Carrying

Amount
 
 
Accumulated

Amortization
 
 
Net Carrying

Amount
 
Finite lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
 
15 years
 
14.8 years
 
$
4,270,000
 
 
$
61,555
 
 
$
4,208,445
 
Developed technology
 
7 years
 
6.7 years
 
$
3,800,000
 
 
 
159,524
 
 
 
3,640,476
 
Membership network
 
7 years
 
6.7 years
 
$
1,740,000
 
 
 
82,857
 
 
 
1,657,143
 
Non-compete agreements
 
2 years
 
1.7 years
 
$
50,000
 
 
 
8,333
 
 
 
41,667
 
Total finite lived intangible assets
 
 
 
 
 
$
9,860,000
 
 
$
312,269
 
 
$
9,547,731
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Indefinite lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trademarks and tradenames
 
Indefinite
 
 
 
$
3,140,000
 
 
$
-
 
 
$
3,140,000
 
Total indefinite lived intangible assets
 
 
 
 
 
$
3,140,000
 
 
$
-
 
 
$
3,140,000
 
Total intangible assets
 
 
 
 
 
 
13,000,000
 
 
$
312,269
 
 
$
12,687,731
 
Schedule of Resale Agreements [Table Text Block]
The estimated future amortization of intangibles subject to amortization at December 31, 2018 was as follows:
 
For the Years Ended December 31,
 
Amount
 
2019
 
$
1,101,095
 
2020
 
 
1,092,762
 
2021
 
 
1,076,095
 
2022
 
 
1,076,095
 
2023
 
 
1,076,095
 
Thereafter
 
 
4,125,588
 
 
 
 
9,547,730