INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2020

Intangible assets, net are as follows:

June 30, 2020	Useful Lives (Years)		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade names		8-10 years	$	993,000	$	(405,141)	$	587,859
Customer relationships		4-10 years		1,228,000		(419,385)		808,615
Patents		10 years		359,665		(67,658)		292,007
Non-compete		4 years		174,000		(67,063)		106,937
Intangible assets, net			$	2,754,665	$	(959,247)	$	1,795,418

December 31, 2019	Useful Lives (Years)		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade names		8-10 years	$	993,000		(354,203)	$	638,797
Customer relationships		4-10 years		1,228,000		(293,260)		934,740
Patents		10 years		270,250		(49,027)		221,223
Non-compete		4 years		174,000		(45,313)		128,687
Intangible assets, net			$	2,665,250	$	(741,803)	$	1,923,447

Future Annual Estimated Amortization Expense

Intangible assets are amortized on a straight-line basis over their estimated useful lives. Amortization expense amounted to approximately $0.2 million and $0.2 million for the six months ended June 30, 2020 and 2019, respectively. Future annual estimated amortization expense is as follows:

Years ending December 31,
2020 (remaining six months)	$	216,796
2021		426,591
2022		411,206
2023		172,341
2024		172,341
Thereafter		396,143
Total	$	1,795,418