v3.19.3
Intangible Assets
 9 Months Ended
Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 8. Intangible Assets

The Company’s definite-lived intangible assets arose from the acquisition of OneClick.  These assets and related accumulated amortization consisted of the following as of the dates presented (in thousands):

 

 

 

September 30,

2019

(unaudited)

 

 

December 31,

2018

 

Tradenames - OneClick

 

$

938

 

 

$

938

 

Tradenames - Simply Mac

 

 

2,092

 

 

 

—

 

Covenants Not To Compete

 

 

258

 

 

 

258

 

Domain Name

 

 

2

 

 

 

2

 

Subtotal

 

 

3,290

 

 

 

1,198

 

Less accumulated amortization

 

 

(507

)

 

 

(315

)

Total

 

$

2,783

 

 

$

883

 

 

Amortization expense for the three and nine months ended September 30, 2019 amounted to $65,000 and $191,000, respectively.  Amortization expense for the three and nine months ended September 30, 2018 amounted to $63,000 and $189,000, respectively.  The OneClick trade name is being amortized over 60 months and the covenants not to compete are being amortized over 48 months.  Amortization expense for these two assets for the years ending December 31, 2019 (remaining 3 months) through 2022 will be $63,000, $252,000, $236,000 and $143,000.  The Simply Mac trade name is being amortized over 15 years at the rate of $139,000 per year.