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Intangible Assets

12 Months Ended

Dec. 31, 2017

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 and $19,104 during the years ended December 31, 2017 and 2016, respectively. The net value of these intangibles was $152,832 as of December 31, 2017. A summary of intangible amortization expense estimated for the periods subsequent to December 31, 2017 is as follows:

Period	Amount
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
Year ending December 31, 2022		19,104
After December 31, 2022		57,312
Total	$	152,832

Intangible assets as of December 31, 2017 consisted of the following:

	Gross Carrying Value		Accumulated Amortization			Net Book Value
Developed technology	$	184,100	$	(36,820	)	$	147,280
Customer relationships		1,300		(260	)		1,040
Non-compete agreements		5,640		(1,128	)		4,512
Total	$	191,040	$	(38,208	)	$	152,832

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

	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