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Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

9. Intangible Assets

Intangible assets subject to amortization consisted of the following:

	As of December 31, 2019							As of December 31, 2018
	Carrying Amount		Accumulated Amortization			Net Carrying Amount		Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology	$	19,138,104	$	(4,090,359	)	$	15,047,745	$	14,750,000	$	(558,423	)	$	14,191,577
Noncompete agreement		480,000		(252,000	)		228,000		480,000		(12,000	)		468,000
Trade name		3,328,000		(224,745	)		3,103,255		748,000		(23,819	)		724,181
Subscriber relationships		73,458,799		(3,587,837	)		69,870,962		-		-			-
Advertiser relationships		2,240,000		(94,635	)		2,145,365		-		-			-
Database		1,140,000		(151,183	)		988,817		-		-			-
Subtotal amortizable intangible assets		99,784,903		(8,400,759	)		91,384,144		15,978,000		(594,242	)		15,383,758
Website domain name		20,000		-			20,000		20,000		-			20,000
Total intangible assets	$	99,804,903	$	(8,400,759	)	$	91,404,144	$	15,998,000	$	(594,242	)	$	15,403,758

Intangible assets subject to amortization were recorded as part of the Company’s business acquisition of HubPages, Say Media, and TheStreet for the developed technology, noncompete agreement, trade name, subscriber relationships, advertiser relationships, and database. Intangible assets subject to amortization were recorded as part of the Company’s licensed brands for the subscriber relationships. The website domain name has an infinite life and is not being amortized. Amortization expense for the years ended December 31, 2019 and 2018 was $7,806,517 and $594,242, respectively. Amortization expense for developed technology of $3,531,936 and $558,423 for the years ended December 31, 2019 and 2018, respectively, is included within cost of revenues on the consolidated statements of operations. No impairment charges have been recorded during the years ended December 31, 2019 and 2018.

Estimated total amortization expense for the next five years and thereafter related to the Company’s intangible assets subject to amortization as of December 31, 2019 is as follows:

Year Ending December 31,
2020	$	20,054,383
2021		19,826,383
2022		19,093,265
2023		17,401,440
2024		11,397,874
Thereafter		3,610,799
	$	91,384,144