| Intangible Assets |
5. Intangible Assets
Intangible assets, net is as follows:
| March 31, 2018 |
|
Useful Lives
(Years)
|
|
|
Gross
Carrying
Amount
|
|
|
Accumulated
Amortization
|
|
|
Net Carrying
Amount
|
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
3,970,000 |
|
|
$ |
(1,395,014 |
) |
|
$ |
2,574,986 |
|
| Paid Member Relationships |
|
|
5 |
|
|
|
890,000 |
|
|
|
(625,472 |
) |
|
|
264,528 |
|
| Member Lists |
|
|
5 |
|
|
|
8,957,000 |
|
|
|
(6,294,781 |
) |
|
|
2,662,219 |
|
| Developed Technology |
|
|
3 |
|
|
|
978,000 |
|
|
|
(978,000 |
) |
|
|
- |
|
| Trade Name/Trademarks |
|
|
4 |
|
|
|
480,000 |
|
|
|
(419,861 |
) |
|
|
60,139 |
|
| Customer Relationships |
|
|
5 |
|
|
|
280,000 |
|
|
|
(186,667 |
) |
|
|
93,333 |
|
| |
|
|
|
|
|
$ |
15,555,000 |
|
|
$ |
(9,899,795 |
) |
|
|
5,655,205 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade Name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,745,605 |
|
| December 31, 2017 |
|
Useful Lives
(Years)
|
|
|
Gross
Carrying
Amount
|
|
|
Accumulated
Amortization
|
|
|
Net Carrying
Amount
|
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
3,970,000 |
|
|
$ |
(1,295,764 |
) |
|
$ |
2,674,236 |
|
| Paid Member Relationships |
|
|
5 |
|
|
|
890,000 |
|
|
|
(580,972 |
) |
|
|
309,028 |
|
| Member Lists |
|
|
5 |
|
|
|
8,957,000 |
|
|
|
(5,846,931 |
) |
|
|
3,110,069 |
|
| Developed Technology |
|
|
3 |
|
|
|
978,000 |
|
|
|
(978,000 |
) |
|
|
- |
|
| Trade Name/Trademarks |
|
|
4 |
|
|
|
480,000 |
|
|
|
(389,861 |
) |
|
|
90,139 |
|
| Customer Relationships |
|
|
5 |
|
|
|
280,000 |
|
|
|
(172,667 |
) |
|
|
107,333 |
|
| |
|
|
|
|
|
$ |
15,555,000 |
|
|
$ |
(9,264,195 |
) |
|
|
6,290,805 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade Name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,381,205 |
|
Future annual estimated amortization
expense is summarized as follows:
| Years ending December 31, |
|
|
|
| 2018 (nine months) |
|
$ |
1,876,939 |
|
| 2019 |
|
|
1,898,030 |
|
| 2020 |
|
|
397,000 |
|
| 2021 |
|
|
397,000 |
|
| 2022 |
|
|
397,000 |
|
| Thereafter |
|
|
689,236 |
|
| |
|
$ |
5,655,205 |
|
Amortization expense of $636,000 and
$717,100 for the three months ended March 31, 2018 and 2017, respectively, is recorded in depreciation and amortization expense
in the accompanying condensed consolidated statements of operations and comprehensive loss.
|