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Intangible Assets | 12 Months Ended
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Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets |
(5) | Intangible Assets
The following is a summary of the Company’s acquired intangible assets:
|  | As of December 31, 2016 |
|  | Weighted Average Amortization Period |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Intangibles, Net |
Developed technologies |  |  | 5 |  |  | $ | 280,000 |  |  | $ | 37,091 |  |  | $ | 242,909 |
Customer relationships |  |  | 10 |  |  |  | 3,150,000 |  |  |  | 327,082 |  |  |  | 2,822,918 |
Non-compete agreement |  |  | 3 |  |  |  | 67,000 |  |  |  | 23,190 |  |  |  | 43,810 |
Total intangible assets, net |  |  | 10 |  |  | $ | 3,497,000 |  |  | $ | 387,363 |  |  | $ | 3,109,637 |
|  | As of December 31, 2015 |
|  | Weighted Average Amortization Period |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Intangibles, Net |
Developed technologies |  |  | 10 |  |  | $ | 280,000 |  |  | $ | 1,074 |  |  | $ | 278,926 |
Customer relationships |  |  | 10 |  |  |  | 3,150,000 |  |  |  | 12,082 |  |  |  | 3,137,918 |
Non-compete agreement |  |  | 3 |  |  |  | 67,000 |  |  |  | 857 |  |  |  | 66,143 |
Total intangible assets, net |  |  | 10 |  |  | $ | 3,497,000 |  |  | $ | 14,013 |  |  | $ | 3,482,987 |
In September 2016, the Company re-evaluated the useful life of the developed technologies intangible asset and determined the useful life should be reduced from 10 years to 5 years. The estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table. Actual amortization expense to be reported in future periods could differ from these estimates as a results of acquisitions, divestitures, asset impairments, among other factors.
|  | Estimated Future Amortization |
2017 |  | $ | 389,385 |
2018 |  |  | 388,529 |
2019 |  |  | 367,052 |
2020 |  |  | 366,333 |
2021 |  |  | 350,420 |
Thereafter |  |  | 1,247,918 |
Total |  | $ | 3,109,637 |
Amortization expense was $373,350, $14,013 and $0 for the years ended December 31, 2016, 2015 and 2014, respectively.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 + Details
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