Goodwill and Indefinite Lived Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill And Indefinite Lived Intangible Assets

Goodwill and Indefinite Lived Intangible Assets

8. Goodwill and Indefinite Lived Intangible Assets

Goodwill
Balance as of December 31, 2017	-
Additions	2,534,275
Impairment	-
Balance as of December 31, 2018	2,534,275

Indefinite Lived Intangible Assets
Balance as of December 31, 2017	-
Additions	770,000
Impairment	-
Balance as of December 31, 2018	770,000

Indefinite lived intangible assets consist of trade secrets and trademarks related to the acquisition of EnP Investments LLC (note 3).

Definite Life Intangible Assets
Balance as of December 31, 2017	-
Additions	2,398,000
Amortization	(40,000	)
Balance as of December 31, 2018	2,358,000

Definite life intangible assets consists of customer relationships related to the acquisition of EnP Investments LLC (note 3). Customer relationships are amortized over their estimated useful life of 15 years.

Estimated amortization expense over the next five years is as follows:

2019	$	160,000
2020		160,000
2021		160,000
2022		160,000
2023		160,000