5. Intangible Assets

Intangible assets, net is as follows:

September 30, 2017		Useful Lives (Years)				Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount
Long-lived intangible assets:
Sales Process			10			$	3,970,000			$	(1,196,514	)		$	2,773,486
Paid Member Relationships			5				890,000				(536,472	)			353,528
Member Lists			5				8,957,000				(5,399,081	)			3,557,919
Developed Technology			3				978,000				(959,666	)			18,334
Trade Name/Trademarks			4				480,000				(359,861	)			120,139
Customer Relationships			5				280,000				(158,667	)			121,333
						$	15,555,000			$	(8,610,261	)			6,944,739
Indefinite-lived intangible assets:
Trade Name															90,400
Intangible assets, net														$	7,035,139

 

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

Future annual estimated amortization expense is summarized as follows:

Years ending December 31,
2017 (three months)		$	653,933
2018			2,563,872
2019			1,846,697
2020			397,000
2021			397,000
2022			397,000
Thereafter			689,237
		$	6,944,739

 

Amortization expense of $714,000 and $717,000 for the three months ended September 30, 2017 and 2016, respectively, and $2,148,000 and $2,151,000 for the nine months ended September 30, 2017 and 2016, respectively, is recorded in depreciation and amortization expense in the accompanying condensed consolidated statements of operations and comprehensive loss.