Intangible Assets

12 Months Ended

Dec. 31, 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 $19,104 during both of the years ended December 31, 2019 and 2018. The net value of these intangibles was $114,624 and $133,728 as of December 31, 2019 and 2018, respectively. A summary of intangible amortization expense estimated for the periods subsequent to December 31, 2019 is as follows:

During the Years Ending December 31,	Amount
2020		19,104
2021		19,104
2022		19,104
2023		19,104
2024		19,104
2025		19,104
Total	$	114,624

Intangible assets as of December 31, 2019 consisted of the following:

	Gross Carrying Value		Accumulated Amortization			Net Book Value
Developed technology	$	184,100	$	(73,640	)	$	110,460
Customer relationships		1,300		(520	)		780
Non-compete agreements		5,640		(2,256	)		3,384
Total	$	191,040	$	(76,416	)	$	114,624

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