Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

NOTE 8 – INTANGIBLE ASSETS AND GOODWILL

Intangible assets and goodwill consisted of the following at September 30, 2019 and December 31, 2018:

	Useful lives	2019			2018
Patents	10 years	$	81,683		$	81,683
Customer relationships	10 years		4,009,355			4,009,355
Technology	5 years		271,585			178,400
Domain	15 years		13,955			13,955
Trademarks	10 years		3,917,590			3,917,590
Intangible assets, at cost		$	8,294,168		$	8,200,983
Accumulated amortization			(2,517,253	)		(1,848,710	)
Intangible assets, net of accumulated amortization		$	5,776,915		$	6,352,273
Goodwill from acquisition of EOS	N/A	$	78,411			78,411
Goodwill from acquisition of Qwizdom	N/A		463,147		$	463,147
Goodwill from acquisition of Mimio	N/A		44,931			44,931
Goodwill from acquisition of Boxlight	N/A		4,137,060			4,137,060
		$	4,723,549		$	4,723,549

For the nine months ended September 30, 2019 and 2018, the Company recorded amortization expense of $668,543 and $582,447, respectively.