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IDENTIFIED INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2018
IDENTIFIED INTANGIBLE ASSETS [Abstract]  
Schedule of Identified Intangible Assets

A schedule of identified intangible assets is as follows:







 

 

 

 

 

 

 



 

 

Gross

 

Accumulated

 

Carrying

June 30, 2018

 

 

Amount

 

Amortization

 

Amount

Trademarks

 

 

 

 

 

 

 

Wholesale

 

$

27,192,281 

 

 -

$

27,192,281 

Retail

 

 

2,900,000 

 

 -

 

2,900,000 

Patents

 

 

895,477 

$

694,605 

 

200,872 

Customer Relationships

 

 

 -

 

 -

 

 -

Total Intangibles

 

$

30,987,758 

$

694,605 

$

30,293,153 



 

 

 

 

 

 

 



 

 

Gross

 

Accumulated

 

Carrying

December 31, 2017

 

 

Amount

 

Amortization

 

Amount

Trademarks

 

 

 

 

 

 

 

Wholesale

 

$

27,192,281 

 

 -

$

27,192,281 

Retail

 

 

2,900,000 

 

 -

 

2,900,000 

Patents

 

 

895,477 

$

673,009 

 

222,468 

Customer Relationships

 

 

 -

 

 -

 

 -

Total Intangibles

 

$

30,987,758 

$

673,009 

$

30,314,749 



 

 

 

 

 

 

 



 

 

Gross

 

Accumulated

 

Carrying

June 30, 2017

 

 

Amount

 

Amortization

 

Amount

Trademarks

 

 

 

 

 

 

 

Wholesale

 

$

29,343,578 

 

 -

$

29,343,578 

Retail

 

 

2,900,000 

 

 -

 

2,900,000 

Patents

 

 

2,595,477 

$

2,401,358 

 

194,119 

Customer Relationships

 

 

2,200,000 

 

1,286,667 

 

913,333 

Total Intangibles

 

$

37,039,055 

$

3,688,025 

$

33,351,030 



Schedule of Amortization Expense

A schedule of approximate amortization expense related to finite-lived intangible assets for the three and six months ended June 30, 2018 and 2017 is as follows:







 

 

 

 

 

 

 

 



 

Three Months Ended

 

Six Months Ended



 

June 30,

 

June 30,



 

2018

 

2017

 

2018

 

2017

Amortization expense

$

11,000 

$

32,000 

 

22,000 

$

65,000 



Schedule of Future Amortization Expense

A schedule of approximate expected amortization expense related to finite-lived intangible assets for the years ending December 31, is as follows:







 

 



 

Amortization



 

Expense

2018

$

41,000 

2019

 

33,000 

2020

 

31,000 

2021

 

26,000 

2022

 

22,000 

2023+

 

69,000