Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.6.0.2
Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Acquired 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

 

 

Schedule of Estimated Annual Amortization of Intangible Assets

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