| Intangible Assets |
6. Intangible Assets
Intangible assets, net is as follows:
| 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 |
|
| 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, |
|
|
|
| 2018 |
|
$ |
2,512,539 |
|
| 2019 |
|
|
1,898,030 |
|
| 2020 |
|
|
397,000 |
|
| 2021 |
|
|
397,000 |
|
| 2022 |
|
|
397,000 |
|
| Thereafter |
|
|
689,237 |
|
| |
|
$ |
6,290,806 |
|
Amortization expense of $2,802,233
and $2,868,400 for the years ended December 31, 2016 and 2015, respectively, is recorded in depreciation and amortization expense
in the accompanying consolidated statements of operations.
|