Note 7. Intangible Assets

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

	June 30, 2018
	Weighted Average Amortization Period (years)		Gross Carrying Amount		Accumulated Amortization		Intangibles, Net
Customer relationships		10	$	4,830,000	$	995,582	$	3,834,418
Developed technologies		9		1,080,000		208,502		871,498
Tradename		3		120,000		46,667		73,333
Non-compete agreement		3		67,000		56,690		10,310
Total intangible assets, net		10	$	6,097,000	$	1,307,441	$	4,789,559

	December 31, 2017
	Weighted Average Amortization Period (years)		Gross Carrying Amount		Accumulated Amortization		Intangibles, Net
Customer relationships		10	$	4,830,000	$	754,082	$	4,075,918
Developed technologies		9		1,080,000		142,477		937,523
Tradename		3		120,000		26,667		93,333
Non-compete agreement		3		67,000		45,523		21,477
Total intangible assets, net		10	$	6,097,000	$	968,749	$	5,128,251

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, asset impairments, among other factors. Amortization expense was $169,346 and $224,458 for the three months ended June 30, 2018 and 2017, respectively, and $338,692 and $321,804 for the six months ended June 30, 2018 and 2017, respectively.

	Estimated Future Amortization
2018 (remaining six months)	$	337,836
2019		655,052
2020		627,667
2021		598,420
2022		563,000
Thereafter		2,007,584
Total	$	4,789,559