INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2017

NOTE 5.

INTANGIBLE ASSETS:

The Company’s intangible assets primarily consists of the customer lists it acquired through various acquisitions. We amortize our intangible assets that have finite lives using either the straight-line method or based on estimated future cash flows to approximate the pattern in which the economic benefit of the asset will be utilized. Amortization expense was $3 million and $1.4 million during the years ended December 31, 2017 and December 31, 2016, respectively. This amortization expense relates to customer lists which expire through 2022.

Components of intangible assets were as follows, as of December 31:

	2017						2016
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer lists	$	13,563,414		4,206,811		9,356,603		13,563,416		5,120,604		8,442,812
Software	$	425,064		311,964		113,100		425,880		103,988		321,892
Total intangible assets:	$	13,988,478		4,518,775		9,469,703		13,989,296		5,224,592		8,764,704

Our future amortization schedule is as follows:

Year ending December 31,	$	Amount
2018		2,825,148
2019		2,457,806
2020		2,326,000
2021		1,510,749
2022		350,000
Total	$	9,469,703