XML 32 R17.htm IDEA: XBRL DOCUMENT v3.7.0.1
Intangible Assets
 12 Months Ended
Dec. 31, 2016
Intangible Assets [Abstract]  
INTANGIBLE ASSETS
9.INTANGIBLE ASSETS

 

The intangible assets described in Note 8 are being amortized to cost of goods sold over their useful lives, which are estimated to be 10 years. Intangible amortization expense was $19,104 during the year ended December 31, 2016. The net value of these intangibles was $171,936 as of December 31, 2016. A summary of intangible amortization expense estimated for the five years beginning January 1, 2017 and thereafter is as follows:

 

Period 

Amount

 
Year ending December 31, 2017 $19,104 
Year ending December 31, 2018 $19,104 
Year ending December 31, 2019 $19,104 
Year ending December 31, 2020 $19,104 
Year ending December 31, 2021 $19,104 
After December 31, 2021 $76,416 
Total $171,936 

 

Intangible assets as of December 31, 2016 consisted of the following:

 

 As of December 31, 2016
  Gross Carrying Value  Accumulated Amortization  

Net Book

Value

 
Developed technology $184,100  $(18,410) $165,690 
Customer relationships  1,300   (130)  1,170 
Non-compete agreements  5,640   (564)  5,076 
Total $191,040  $(19,104) $171,936