Intangible Assets

12 Months Ended

Dec. 31, 2018

9. INTANGIBLE ASSETS

The intangible assets described in Note 8 are being amortized to costs of goods sold over their useful lives, which are estimated to be 10 years. Intangible amortization expense was $19,104 during both of the years ended December 31, 2018 and 2017. The net value of these intangibles was $133,728 as of December 31, 2018. A summary of intangible amortization expense estimated for the periods subsequent to December 31, 2018 is as follows:

Period	Amount
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
Year ending December 31, 2023		19,104
After December 31, 2023		38,208
Total	$	133,728

Intangible assets as of December 31, 2018 consisted of the following:

	Gross Carrying Value		Accumulated Amortization			Net Book Value
Developed technology	$	184,100	$	(55,230	)	$	128,870
Customer relationships		1,300		(390	)		910
Non-compete agreements		5,640		(1,692	)		3,948
Total	$	191,040	$	(57,312	)	$	133,728

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