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Intangible and Other Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Note 6 – Intangible and Other Assets

The following table summarizes our intangible assets as of:

	December 31,		December 31,		Estimated
	2019		2018		Useful Life
Intangible assets subject to amortization:
Tradenames and trademarks	$	417,307	$	417,307	2.5 - 8.0 years
Accreditations		85,395		85,395	5.0 years
Customer relationships		3,350,551		3,350,551	3.0 - 15.0 years
Patents		970,100		970,100	4.0 years
Non-compete agreements		121,000		121,000	5.0 years
		4,944,353		4,944,353
Less accumulated amortization		2,181,984		1,577,558
		2,762,369		3,366,795
Tradenames/trademarks (not subject to amortization)		465,000		465,000
		3,227,369		3,831,795
Other assets		20,326		20,326
Intangible and other assets:	$	3,247,695	$	3,852,121

We reviewed our long-lived assets for indicators of impairment in 2019 and 2018 and concluded in each year that no impairments exist.

Amortization expense for the years ended December 31, 2019 and 2018 was approximately $604,400 and $570,100, respectively.

As of December 31, 2019, future scheduled amortization of intangible assets is as follows:

Fiscal year ending December 31:

2020		579,925
2021		330,666
2022		318,106
2023		277,636
2024		266,403
Thereafter		989,634
	$	2,762,370

Beneficial Lease Arrangement

In connection with our acquisition of ICS in 2012, we recorded a beneficial lease arrangement of $120,200 related to a 2,300-square foot building located on approximately ¾ acre in Medina, North Dakota. On January 12, 2018, the Company purchased the 2,300-square foot building and terminated the lease. The net book value of the beneficial lease arrangement at December 31, 2017 was approximately $56,500 and was fully amortized in January 2018.