Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets

Schedule of intangible assets

The following table presents our intangible assets as of September 30, 2020:

							Weighted
					Net		Average
	Gross		Accumulated		Carrying		Amortization
	Amount		Amortization		Amount		Period (years)
Non-compete agreement	$	390,000	$	104,000	$	286,000	5
Technology		510,000		136,000		374,000	5
Customer relationships		3,900,000		433,333		3,466,667	12
Cryogene trade name/trademark		480,000		42,667		437,333	15
Cryoport patents and trademarks		374,499		47,375		327,124	—
Total	$	5,654,499	$	763,375	$	4,891,124

The following table presents our intangible assets as of December 31, 2019:

							Weighted
					Net		Average
	Gross		Accumulated		Carrying		Amortization
	Amount		Amortization		Amount		Period (years)
Non-compete agreement	$	390,000	$	45,500	$	344,500	5
Technology		510,000		59,500		450,500	5
Customer relationships		3,900,000		189,583		3,710,417	12
Cryogene trade name/trademark		480,000		18,667		461,333	15
Cryoport patents and trademarks		258,203		47,375		210,828	—
Total	$	5,538,203	$	360,625	$	5,177,578

Schedule of expected future amortization of intangible assets

Expected future amortization of intangible assets as of September 30, 2020 is as follows:

Years Ending December 31,	Amount
Remainder of 2020	$	134,250
2021		537,000
2022		537,000
2023		537,000
2024		432,000
Thereafter		2,386,750
	$	4,564,000