| Intangible Assets |
5. Intangible Assets
Intangible assets, net is as follows:
| September 30, 2018 |
|
Useful Lives
(Years)
|
|
|
Gross
Carrying
Amount
|
|
|
Accumulated
Amortization
|
|
|
Net Carrying
Amount
|
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
3,970,000 |
|
|
$ |
(1,593,514 |
) |
|
$ |
2,376,486 |
|
| Paid Member Relationships |
|
|
5 |
|
|
|
890,000 |
|
|
|
(714,472 |
) |
|
|
175,528 |
|
| Member Lists |
|
|
5 |
|
|
|
8,957,000 |
|
|
|
(7,190,480 |
) |
|
|
1,766,520 |
|
| Developed Technology |
|
|
3 |
|
|
|
648,000 |
|
|
|
(648,000 |
) |
|
|
- |
|
| Trade Name/Trademarks |
|
|
4 |
|
|
|
440,000 |
|
|
|
(440,000 |
) |
|
|
- |
|
| |
|
|
|
|
|
$ |
14,905,000 |
|
|
$ |
(10,586,466 |
) |
|
|
4,318,534 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade Name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,408,934 |
|
| 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 |
|
|
|
648,000 |
|
|
|
(648,000 |
) |
|
|
- |
|
| Trade Name/Trademarks |
|
|
4 |
|
|
|
440,000 |
|
|
|
(359,027 |
) |
|
|
80,973 |
|
| |
|
|
|
|
|
$ |
14,905,000 |
|
|
$ |
(8,730,694 |
) |
|
|
6,174,306 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade Name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,264,706 |
|
Future annual estimated amortization expense
is summarized as follows:
| Years ending December 31, |
|
|
|
| 2018 (three months) |
|
$ |
591,600 |
|
| 2019 |
|
|
1,846,697 |
|
| 2020 |
|
|
397,000 |
|
| 2021 |
|
|
397,000 |
|
| 2022 |
|
|
397,000 |
|
| Thereafter |
|
|
689,237 |
|
| |
|
$ |
4,318,534 |
|
Amortization expenses of $618,000 and $670,000
were the three months ended September 30, 2018 and 2017, respectively, and $1,866,000 and $2,016,000 for the nine months ended
September 30, 2018 and 2017, respectively, and are recorded in depreciation and amortization expenses in the accompanying condensed
consolidated statements of operations and comprehensive loss.
|