Intangible Assets, Net

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Note 5 – Intangible Assets, Net

The following are the intangible assets at September 30, 2018 and December 31, 2017:

	September 30			December 31,
	2018			2017
Leased locations	$	—		$	7,000,000
Technology		1,240,000			—
Tradename		820,000			—
Customer relationships		1,490,000			—
		3,550,000			7,000,000
Less accumulated amortization		(279,526	)		(333,333	)
Intangible assets, net	$	3,270,474		$	6,666,667

Intangible assets are being amortized as follows: Leased locations - 84 months; Technology – 60 months; and Tradename and Customer relationships – 120 months.

Amortization expense for the nine months ended September 30, 2018 and 2017 was $1,029,526 and $0, respectively.

At September 30, 2018, the Company determined that the intangible assets associated with the acquisition of certain RWJ assets was impaired and took a charge to earnings of $5,916,667. 

The estimated future amortization expense related to intangible assets is as follows:

Twelve months ending September 30,
2019	$	479,000
2020		479,000
2021		479,000
2022		479,000
2023		479,000
Thereafter		875,474
	$	3,270,474