Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 5. INTANGIBLE ASSETS

Intangible assets are comprised of the following:

	December 31, 2016			December 31, 2015
Developed technology	$	7,000,000		$	7,000,000
Customer contracts		6,400,000			6,400,000
Trademarks		1,500,000			1,500,000
		14,900,000			14,900,000
Accumulated amortization		(6,320,556	)		(3,873,889	)
	$	8,579,444		$	11,026,111

Amortization expense related to intangible assets for the years ended December 31, 2016 and 2015 was $2,446,667 each year.

These intangible assets will be amortized over their expected useful lives using the straight-line method, which is a weighted-average amortization period of 6.3 years. As of December 31, 2016, the Company will recognize the following amortization expense for the respective periods ending December 31 noted below:

2017		2,446,667
2018		2,446,667
2019		1,700,000
2020		1,166,667
2021		583,334
Thereafter		236,109
Total	$	8,579,444

During the years ended December 31, 2016 and 2015, no impairments were recognized related to other intangible assets.