Quarterly report pursuant to Section 13 or 15(d)

Intangible assets, net (Tables)

v3.19.2
Intangible assets, net (Tables)
6 Months Ended
Jun. 30, 2019
Intangible assets, net  
Schedule of intangible assets

As of June 30, 2019, intangible assets consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

    

Gross

    

 

 

    

 

 

 

 

 

 

 

 

Carrying

 

Accumulated

 

Net Carrying

 

 

 

 

 

 

Amount

 

Amortization

 

Amount

Finite lived intangible assets:

 

  

 

  

 

 

  

 

 

  

 

 

  

Customer relationships

 

15 years

 

14.8 years

 

$

4,270,000

 

$

197,222

 

$

4,072,778

Developed technology

 

7 years

 

6.7 years

 

$

3,800,000

 

 

426,190

 

 

3,373,810

Membership network

 

7 years

 

6.7 years

 

$

1,740,000

 

 

207,144

 

 

1,532,856

Non-compete agreements

 

2 years

 

1.7 years

 

$

50,000

 

 

20,833

 

 

29,167

Total finite lived intangible assets

 

  

 

  

 

$

9,860,000

 

$

851,389

 

$

9,008,611

 

 

  

 

  

 

 

  

 

 

  

 

 

  

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

 

$

851,389

 

$

12,148,611

 

As of December 31, 2018, intangible assets consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

    

Gross

    

 

 

    

 

 

 

 

 

 

 

 

Carrying

 

Accumulated

 

Net Carrying

 

 

 

 

 

 

Amount

 

Amortization

 

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 future amortization

The estimated future amortization of intangibles subject to amortization at June 30, 2019 was as follows:

 

 

 

 

 

For the Years Ended December 31, 

    

Amount

2019 (excluding the six months ended June 30, 2019)

 

$

561,975

2020

 

 

1,092,762

2021

 

 

1,076,095

2022

 

 

1,076,095

2023

 

 

1,076,095

Thereafter

 

 

4,125,589

 

 

$

9,008,611