Intangible Assets

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

9. INTANGIBLE ASSETS

The intangible assets described in Note 8 are being amortized to costs of goods sold over their useful lives, which are estimated to be 10 years. Intangible amortization expense was $4,776 during both of the three-month periods ended June 30, 2019 and 2018 and $9,552 during both of the six-month periods ended June 30, 2019, and 2018. The net value of these intangibles was $124,176 and $133,728 as of June 30, 2019 and December 31, 2018, respectively. A summary of intangible amortization expense estimated for the periods subsequent to June 30, 2019 is as follows:

Period	Amount
Six-month period ending December 31, 2019	$	9,552
Year ending December 31, 2020		19,104
Year ending December 31, 2021		19,104
Year ending December 31, 2022		19,104
Year ending December 31, 2023		19,104
After December 31, 2023		38,208
Total	$	124,176

Intangible assets as of June 30, 2019 consisted of the following:

	Gross Carrying Value		Accumulated Amortization			Net Book Value
Developed technology	$	184,100	$	(64,435	)	$	119,665
Customer relationships		1,300		(455	)		845
Non-compete agreements		5,640		(1,974	)		3,666
Total	$	191,040	$	(66,864	)	$	124,176

Intangible assets as of December 31, 2018 consisted of the following:

	Gross Carrying Value		Accumulated Amortization			Net Book Value
Developed technology	$	184,100	$	(55,230	)	$	128,870
Customer relationships		1,300		(390	)		910
Non-compete agreements		5,640		(1,692	)		3,948
Total	$	191,040	$	(57,312	)	$	133,728