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Intangible Assets | 9 Months Ended
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Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS |
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 $4,776 during both of the three-month periods ended September 30, 2019 and 2018 and $14,328 during both of the nine-month periods ended September 30, 2019, and 2018. The net value of these intangibles was $119,400 and $133,728 as of September 30, 2019 and December 31, 2018, respectively. A summary of intangible amortization expense estimated for the periods subsequent to September 30, 2019 is as follows:
Period |  | Amount |
Three-month period ending December 31, 2019 |  | $ | 4,776 |
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 |  | $ | 119,400 |
Intangible assets as of September 30, 2019 consisted of the following:
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Book Value |
Developed technology |  | $ | 184,100 |  |  | $ | (69,037 | ) |  | $ | 115,063 |
Customer relationships |  |  | 1,300 |  |  |  | (488 | ) |  |  | 812 |
Non-compete agreements |  |  | 5,640 |  |  |  | (2,115 | ) |  |  | 3,525 |
Total |  | $ | 191,040 |  |  | $ | (71,640 | ) |  | $ | 119,400 |
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 |

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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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