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Intangible assets | 12 Months Ended
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Dec. 31, 2020
Intangible assets |
Intangible assets | 9. Intangible assets In February 2016, the Company purchased a 51% ownership interest in Aerex Industries, Inc. The purchase transaction identified certain intangible assets with a fair value of $5,900,000 and useful lives as follows: non-compete (5 years), trade name (15 years), certifications/programs (3 years), customer backlog (1 year), and customer relationships (4 years). In January 2020, the Company acquired the remaining 49% ownership interest in Aerex. In October 2019, the Company purchased a 51% ownership interest in PERC Water Corporation. The purchase transaction identified certain intangible assets with a fair value of $3,990,000 and useful lives as follows: non-compete (3 years), trade name (15 years), customer backlog (2 years), and facility management contracts (6 years). In August 2020, the Company purchased an additional 10% of the ownership of PERC, increasing its ownership of this subsidiary to 61%. The costs and accumulated amortization for these assets were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2020 |  | 2019
Cost |  | ​ |  |  | ​ |
Non-compete agreements | ​ | $ | 530,000 | ​ | $ | 530,000
Trade names | ​ |  | 2,700,000 | ​ |  | 2,700,000
Certifications/programs | ​ |  | 2,000,000 | ​ |  | 2,000,000
Customer backlogs | ​ |  | 460,000 | ​ |  | 460,000
Customer relationships | ​ | ​ | 2,000,000 | ​ | ​ | 2,000,000
Facility management contracts | ​ |  | 2,200,000 | ​ |  | 2,200,000
​ | ​ |  | 9,890,000 | ​ |  | 9,890,000
Accumulated amortization | ​ |  | ​ | ​ |  |
Non-compete agreements | ​ |  | (443,889) | ​ |  | (320,556)
Trade names | ​ |  | (560,000) | ​ |  | (380,000)
Certifications/programs | ​ |  | (2,000,000) | ​ |  | (2,000,000)
Customer backlogs | ​ |  | (310,000) | ​ |  | (130,000)
Customer relationships | ​ | ​ | (2,000,000) | ​ | ​ | (1,958,333)
Facility management contracts | ​ |  | (427,778) | ​ |  | (61,111)
​ | ​ |  | (5,741,667) | ​ |  | (4,850,000)
Intangible assets, net | ​ | $ | 4,148,333 | ​ | $ | 5,040,000
​ Amortization of intangible assets for each of the next five years and thereafter is expected to be as follows: ​
​ | ​ | ​ | ​
2021 |  | $ | 746,667
2022 | ​ |  | 582,778
2023 | ​ |  | 546,667
2024 | ​ |  | 546,667
2025 | ​ |  | 485,556
Thereafter | ​ |  | 1,239,998
​ | ​ | $ | 4,148,333
​ Amortization expense was $891,667 and $841,667 for the years ended years ended December 31, 2020 and 2019, respectively.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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