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
|
|
|