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Intangible Assets | 6 Months Ended
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Jun. 30, 2018
Intangible Assets [Abstract] |
INTANGIBLE ASSETS |
8. | INTANGIBLE ASSETS
The intangible assets described in Note 7 are being amortized to cost of goods sold over their useful lives, which are estimated to be 10 years. Intangible amortization expense was $4,776 during the three-month periods ended June 30, 2018 and 2017 and $9,552 during the six-month periods ended June 30, 2018 and 2017. The net value of these intangibles was $143,280 and $152,832 as of June 30, 2018 and December 31, 2017, respectively. A summary of intangible amortization expense estimated for the periods subsequent to June 30, 2018 is as follows:
Period |  | Amount |
Six-month period ending December 31, 2018 |  | $ | 9,552 |
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 |  | $ | 143,280 |
Intangible assets as of June 30, 2018 consisted of the following:
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Book Value |
Developed technology |  | $ | 184,100 |  |  | $ | (46,025 | ) |  | $ | 138,075 |
Customer relationships |  |  | 1,300 |  |  |  | (325 | ) |  |  | 975 |
Non-compete agreements |  |  | 5,640 |  |  |  | (1,410 | ) |  |  | 4,230 |
Total |  | $ | 191,040 |  |  | $ | (47,760 | ) |  | $ | 143,280 |
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 |

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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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