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Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Note 6. Intangible Assets

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

	March 31, 2019
	Weighted Average Amortization Period (years)		Gross Carrying Amount		Accumulated Amortization		Intangibles, Net
Customer relationships		10	$	4,830,000	$	1,357,832	$	3,472,168
Developed technologies		9		1,080,000		307,541		772,459
Tradename		3		120,000		76,667		43,333
Total intangible assets, net			$	6,030,000	$	1,742,040	$	4,287,960

	December 31, 2018
	Weighted Average Amortization Period (years)		Gross Carrying Amount		Accumulated Amortization		Intangibles, Net
Customer relationships		10	$	4,830,000	$	1,237,082	$	3,592,918
Developed technologies		9		1,080,000		274,528		805,472
Tradename		3		120,000		66,667		53,333
Total intangible assets, net			$	6,030,000	$	1,578,277	$	4,451,723

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 result of acquisitions, divestitures, and asset impairments, among other factors. Amortization expense was $163,763 and $169,346 for the three months ended March 31, 2019 and 2018, respectively.

	Estimated Future Amortization
2019 (remaining nine months)	$	491,289
2020		628,385
2021		597,701
2022		563,000
2023		563,000
Thereafter		1,444,585
Total	$	4,287,960