NOTE

INTANGIBLE ASSETS

Intangible assets consist of the following:

	September 30, 2018							December 31, 2017
			Accumulated							Accumulated
	Cost		Amortization			Balance		Cost		Amortization			Balance

Customer relationships	$	32,638,900	$	(5,652,893	)	$	26,986,007	$	8,132,900	$	(2,970,533	)	$	5,162,367
Permits, licenses, and lease acquisition costs		9,599,621		(340,166	)		9,259,455		2,184,106		(178,835	)		2,005,271
Site location		849,347		(66,060	)		783,287		849,347		(23,593	)		825,754
Noncompetition and nonsolicitation agreements		614,000		(114,817	)		499,183		285,000		(66,417	)		218,583
Trade names and trademarks		722,200		(176,917	)		545,283		722,200		(112,250	)		609,950
Technology		138,000		(111,159	)		26,841		138,000		(76,662	)		61,338
Nonsolicitation agreement		28,000		(28,000	)		-		28,000		(28,000	)		-
Favorable leases		1,425,000		(23,750	)		1,401,250		-		-			-
Easements		941,413		-			941,413		466,360		-			466,360

Total	$	46,956,481	$	(6,513,762	)	$	40,442,719	$	12,805,913	$	(3,456,290	)	$	9,349,623

The future amortization associated with the intangible assets is as follows:

	September 30,
	2019		2020		2021		2022		2023		Thereafter		Total

Customer relationships	$	10,306,727	$	9,186,562	$	7,492,718	$	-	$	-	$	-	$	26,986,007
Permits, licenses and lease acquisition costs		867,542		867,542		867,542		867,542		867,542		4,921,745		9,259,455
Site location		56,623		56,623		56,623		56,623		56,623		500,172		783,287
Noncompetition and nonsolicitation agreements		122,800		118,717		102,550		92,800		62,316		-		499,183
Trade names and trademarks		74,000		65,658		64,900		64,900		64,900		210,925		545,283
Technology		26,841		-		-		-		-		-		26,841
Favorable leases		142,500		142,500		142,500		142,500		142,500		688,750		1,401,250

Total	$	11,597,033	$	10,437,602	$	8,726,833	$	1,224,365	$	1,193,881	$	6,321,592	$	39,501,306

Amortization expense for the

three

months ended

September 30, 2018

and

2017

was

$1,608,708

and

$517,176

respectively. Amortization expense for the

nine

months ended

September 30, 2018

and

2017

was

$3,059,948

and

$1,313,075,

respectively.

Future Amortization

The weighted average amortization period, in months, for intangible assets is as follows:

Customer relationships			30
Permits, licenses, and lease acquisition costs			128
Site location			166
Noncompetition and nonsolicitation agreements			49
Trade names and trademarks			64
Technology			7
Favorable leases			118