Airgain, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

(5)	Intangible Assets

The following is a summary of the Company’s acquired intangible assets:

	As of December 31, 2016
	Weighted Average Amortization Period		Gross Carrying Amount		Accumulated Amortization		Intangibles, Net
Developed technologies		5	$	280,000	$	37,091	$	242,909
Customer relationships		10		3,150,000		327,082		2,822,918
Non-compete agreement		3		67,000		23,190		43,810
Total intangible assets, net		10	$	3,497,000	$	387,363	$	3,109,637

	As of December 31, 2015
	Weighted Average Amortization Period		Gross Carrying Amount		Accumulated Amortization		Intangibles, Net
Developed technologies		10	$	280,000	$	1,074	$	278,926
Customer relationships		10		3,150,000		12,082		3,137,918
Non-compete agreement		3		67,000		857		66,143
Total intangible assets, net		10	$	3,497,000	$	14,013	$	3,482,987

In September 2016, the Company re-evaluated the useful life of the developed technologies intangible asset and determined the useful life should be reduced from 10 years to 5 years.

The estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table. Actual amortization expense to be reported in future periods could differ from these estimates as a results of acquisitions, divestitures, asset impairments, among other factors.

	Estimated Future Amortization
2017	$	389,385
2018		388,529
2019		367,052
2020		366,333
2021		350,420
Thereafter		1,247,918
Total	$	3,109,637

Amortization expense was $373,350, $14,013 and $0 for the years ended December 31, 2016, 2015 and 2014, respectively.