| Schedule of Intangible Assets |
Intangible assets, net is as follows:
|
June 30, 2017
|
|
Useful Lives
(Years)
|
|
|
Gross
Carrying
Amount
|
|
|
Accumulated
Amortization
|
|
|
Net
Carrying
Amount
|
|
|
Long-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Process
|
|
|
10
|
|
|
$
|
3,970,000
|
|
|
$
|
(1,097,264
|
)
|
|
$
|
2,872,736
|
|
|
Paid Member Relationships
|
|
|
5
|
|
|
|
890,000
|
|
|
|
(491,972
|
)
|
|
|
398,028
|
|
|
Member Lists
|
|
|
5
|
|
|
|
8,957,000
|
|
|
|
(4,951,231
|
)
|
|
|
4,005,769
|
|
|
Developed Technology
|
|
|
3
|
|
|
|
978,000
|
|
|
|
(881,166
|
)
|
|
|
96,834
|
|
|
Trade Name/Trademarks
|
|
|
4
|
|
|
|
480,000
|
|
|
|
(329,861
|
)
|
|
|
150,139
|
|
|
Customer Relationships
|
|
|
5
|
|
|
|
280,000
|
|
|
|
(144,667
|
)
|
|
|
135,333
|
|
|
|
|
|
|
|
|
$
|
15,555,000
|
|
|
$
|
(7,896,161
|
)
|
|
|
7,658,839
|
|
|
Indefinite-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Name
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
7,749,239
|
|
|
December 31, 2016
|
|
Useful Lives
(Years)
|
|
|
Gross
Carrying
Amount
|
|
|
Accumulated
Amortization
|
|
|
Net
Carrying
Amount
|
|
|
Long-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Process
|
|
|
10
|
|
|
$
|
3,970,000
|
|
|
$
|
(898,764
|
)
|
|
$
|
3,071,236
|
|
|
Paid Member Relationships
|
|
|
5
|
|
|
|
890,000
|
|
|
|
(402,972
|
)
|
|
|
487,028
|
|
|
Member Lists
|
|
|
5
|
|
|
|
8,957,000
|
|
|
|
(4,055,531
|
)
|
|
|
4,901,469
|
|
|
Developed Technology
|
|
|
3
|
|
|
|
978,000
|
|
|
|
(718,166
|
)
|
|
|
259,834
|
|
|
Trade Name/Trademarks
|
|
|
4
|
|
|
|
480,000
|
|
|
|
(269,861
|
)
|
|
|
210,139
|
|
|
Customer Relationships
|
|
|
5
|
|
|
|
280,000
|
|
|
|
(116,667
|
)
|
|
|
163,333
|
|
|
|
|
|
|
|
|
$
|
15,555,000
|
|
|
$
|
(6,461,961
|
)
|
|
|
9,093,039
|
|
|
Indefinite-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Name
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
9,183,439
|
|
|
| Schedule of Future Annual Estimated Amortization Expense |
Future annual estimated amortization expense is summarized as follows:
|
Years ending December 31,
|
|
|
|
|
2017 (six months)
|
|
$
|
1,368,033
|
|
|
2018
|
|
|
2,563,872
|
|
|
2019
|
|
|
1,846,697
|
|
|
2020
|
|
|
397,000
|
|
|
2021
|
|
|
397,000
|
|
|
2022
|
|
|
397,000
|
|
|
Thereafter
|
|
|
689,237
|
|
|
|
|
$
|
7,658,839
|
|