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Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

NOTE 8 – INTANGIBLE ASSETS AND GOODWILL

 

Intangible assets and goodwill consisted of the following at December 31, 2018 and 2017:

 

    Weighted Average useful lives   2018     2017  
                 
Patents   9 years   $ 81,683     $ 67,395  
Customer relationships   10 years     4,009,355       3,567,396  
Technology   5 years     178,400       -  
Domain   15 years     13,955       -  
Trademarks   10 years     3,917,590       3,554,932  
                     
Intangible assets, at cost         8,200,983       7,189,723  
Accumulated amortization         (1,848,710 )     (1,063,165 )
                     
Intangible assets, net of accumulated amortization       $ 6,352,273     $ 6,126,558  
                     
Goodwill from acquisition of Mimio   N/A   $ 44,931     $ 44,931  
Goodwill from acquisition of Boxlight   N/A     4,137,060       4,137,060  
Goodwill from acquisition of EOS   N/A     78,411       -  
Goodwill from acquisition of Qwizdom   N/A     477,145       -  
        $ 4,737,547     $ 4,181,991  

 

For the years ended December 31, 2018 and 2017, the Company recorded amortization expense of $785,547 and $716,920, respectively.