| Intangible Assets |
5. Intangible Assets
Intangible assets, net was as follows:
| |
|
Useful Lives |
|
|
Gross
Carrying
|
|
|
Accumulated |
|
|
Net Carrying |
|
| September 30, 2020 |
|
(Years) |
|
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
2,130,956 |
|
|
$ |
(1,826,126 |
) |
|
$ |
304,830 |
|
| Paid Member Relationships |
|
|
5 |
|
|
|
803,472 |
|
|
|
(803,472 |
) |
|
|
- |
|
| Member Lists |
|
|
5 |
|
|
|
8,086,181 |
|
|
|
(8,086,181 |
) |
|
|
- |
|
| Developed Technology |
|
|
3 |
|
|
|
648,000 |
|
|
|
(648,000 |
) |
|
|
- |
|
| Trade Name/Trademarks |
|
|
4 |
|
|
|
440,000 |
|
|
|
(440,000 |
) |
|
|
- |
|
| |
|
|
|
|
|
|
12,108,609 |
|
|
|
(11,803,779 |
) |
|
|
304,830 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
395,230 |
|
| |
|
Useful Lives |
|
|
Gross
Carrying
|
|
|
Accumulated |
|
|
Net Carrying |
|
| December 31, 2019 |
|
(Years) |
|
|
Amount |
|
|
Amortization |
|
|
Amount |
|
| Long-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sales Process |
|
|
10 |
|
|
$ |
2,130,956 |
|
|
$ |
(1,768,971 |
) |
|
$ |
361,985 |
|
| Paid Member Relationships |
|
|
5 |
|
|
|
803,472 |
|
|
|
(803,472 |
) |
|
|
- |
|
| Member Lists |
|
|
5 |
|
|
|
8,086,181 |
|
|
|
(8,086,181 |
) |
|
|
- |
|
| Developed Technology |
|
|
3 |
|
|
|
648,000 |
|
|
|
(648,000 |
) |
|
|
- |
|
| Trade Name/Trademarks |
|
|
4 |
|
|
|
440,000 |
|
|
|
(440,000 |
) |
|
|
- |
|
| |
|
|
|
|
|
|
12,108,609 |
|
|
|
(11,746,624 |
) |
|
|
361,985 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade name |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400 |
|
| Intangible assets, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
452,385 |
|
As of September 30, 2020, estimated amortization
expense in future fiscal years is summarized as follows:
| Year ended December 31, |
|
|
|
| Remaining of 2020 |
|
$ |
19,052 |
|
| 2021 |
|
|
76,207 |
|
| 2022 |
|
|
76,207 |
|
| 2023 |
|
|
76,207 |
|
| 2024 and thereafter |
|
|
57,157 |
|
| |
|
$ |
304,830 |
|
For the three months ended September 30, 2020
and 2019, amortization expense was approximately $19,000 and $183,000. For the nine months ended September 30, 2020 and 2019,
amortization expenses was $57,000 and $550,000. Intangible amortization expense is recorded in depreciation and amortization expense
in the accompanying statements of operations.
|