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 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 its estimated life was 15 years.

Intangible assets consisted of the following as of September 30, 2019 and December 31, 2018:

	September 30, 2019			December 31, 2018

Customer relationship	$	6,150,559		$	6,150,559
Trademarks		200,000			200,000
Less: accumulated amortization		(2,859,683	)		(2,554,655	)
	$	3,490,876		$	3,795,904

Amortization of intangible assets was $305,028 and $101,676 for the nine and three months ended September 30, 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 September 30,
2020	$	406,704
2021		406,704
2022		406,704
2023		406,704
2024		406,704