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Note 5 - Intangible Assets, net | 3 Months Ended
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Mar. 31, 2019
Disclosure Text Block [Abstract] |
Intangible Assets Disclosure [Text Block] | Note 5 - Intangible Assets, net The Company acquired a customer relationship with a fair value of $50,000 on August 31, 2011, as part of its acquisition of Diamond Bar. Concurrently with its acquisition of Diamond Bar, the Company entered into a trademark purchase and assignment agreement for all rights, title and interest in two trademarks (Diamond Sofa and Diamond Furniture) for $200,000 paid in full at the closing. Amortization of said customer relationship and the trademarks is provided using the straight-line method and estimated lives were 5 years for each. The Company acquired a customer relationship with a fair value of $6,100,559 on April 24, 2013, as part of its acquisition of Bright Swallow. Amortization of said customer relationship is provided using the straight-line method and estimated life was 15 years. Intangible assets consisted of the following as of March 31, 2019 and December 31, 2018:
|  | March 31, 201 9 |  |  | December 31, 201 8 |
Customer relationship |  | $ | 6,150,559 |  |  | $ | 6,150,559 |
Trademarks |  |  | 200,000 |  |  |  | 200,000 |
Less: accumulated amortization |  |  | (2,656,331 | ) |  |  | (2,554,655 | )
|  | $ | 3,694,228 |  |  | $ | 3,795,904 |
Amortization of intangible assets was $101,676 for the three months ended March 31, 2019 and 2018, respectively. Estimated amortization expense relating to the existing intangible assets with finite lives for each of the next five years is as follows:
12 months ending March 31, |  |  |  |
2019 |  | $ | 406,704 |
2020 |  |  | 406,704 |
2021 |  |  | 406,704 |
2022 |  |  | 406,704 |
2023 |  |  | 406,704 |

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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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