Note 7. Intangible Assets

The following is a summary of the Company’s acquired intangible assets:

	June 30, 2017
	Weighted Average Amortization Period (years)		Gross Carrying Amount		Accumulated Amortization		Intangibles, Net
Customer relationships		10	$	4,450,000	$	508,582	$	3,941,418
Assembled workforce		3		1,340,000		74,444		1,265,556
Developed technologies		5		1,080,000		89,784		990,216
Tradename		10		120,000		2,000		118,000
Non-compete agreement		3		67,000		34,357		32,643
Total intangible assets, net		8	$	7,057,000	$	709,167	$	6,347,833

	December 31, 2016
	Weighted Average Amortization Period (years)		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

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. Amortization expense was $224,458 and $91,333 for the three months ended June 30, 2017 and 2016, respectively, and $321,804 and $182,666 for the six months ended June 30, 2017 and 2016, respectively.

	Estimated Future Amortization
2017 (remaining six months)	$	566,693
2018		1,137,195
2019		1,115,718
2020		817,222
2021		652,420
Thereafter		2,058,585
Total	$	6,347,833