Intangible Assets

3 Months Ended

Mar. 31, 2017

9.	INTANGIBLE ASSETS

The intangible assets described in Note 8 are being amortized to cost of goods sold over their useful lives, which are estimated to be 10 years. Intangible amortization expense was $4,776 during the three-month period ended March 31, 2017. The net value of these intangibles was $167,160 as of March 31, 2017. A summary of intangible amortization expense estimated for the periods subsequent to March 31, 2017 is as follows:

Period	Amount
Nine months ending December 31, 2017	$	14,328
Year ending December 31, 2018	$	19,104
Year ending December 31, 2019	$	19,104
Year ending December 31, 2020	$	19,104
Year ending December 31, 2021	$	19,104
After December 31, 2021	$	76,416
Total	$	167,160

Intangible assets as of March 31, 2017 consisted of the following:

	Gross Carrying Value		Accumulated Amortization			Net Book Value
Developed technology	$	184,100	($	23,013	)	$	161,087
Customer relationships		1,300		(162	)		1,138
Non-compete agreements		5,640		(705	)		4,935
Total	$	191,040	($	23,880	)	$	167,160

Intangible assets as of December 31, 2016 consisted of the following:

	Gross Carrying Value		Accumulated Amortization			Net Book Value
Developed technology	$	184,100	($	18,410	)	$	165,690
Customer relationships		1,300		(130	)		1,170
Non-compete agreements		5,640		(564	)		5,076
Total	$	191,040	($	19,104	)	$	171,936