GOODWILL AND OTHER INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Components of intangible assets (subject to amortization) and goodwill consist of the following items:

		December 31, 2017						December 31, 2016
	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relations	5-8	$	1,588,700	$	872,654	$	716,046	$	1,011,000	$	689,032	$	321,968
Vendor relations	10	6,654,497		2,866,314		3,788,183		6,495,049		2,210,166		4,284,883
Trademark/Trade name	6-16	1,321,000		423,514		897,486		1,219,000		337,276		881,724
TCEP Technology/Patent	15	13,287,000		4,409,043		8,877,957		13,287,000		3,523,243		9,763,757
Non-compete agreements	3-5	189,000		145,667		43,333		139,000		139,000		—
Goodwill		176,349		—		176,349		—		—		—
		$	23,216,546	$	8,717,192	$	14,499,354	$	22,151,049	$	6,898,717	$	15,252,332

Intangible assets are amortized on a straight-line basis. We continually evaluate the amortization period and carrying basis of intangible assets to determine whether subsequent events and circumstances warrant a revised estimated useful life or reduction in value.

Total amortization expense of intangibles was $1,818,475 and $1,715,653 for the years ended December 31, 2017 and 2016, respectively.

Estimated future amortization expense is as follows:

2018	$	1,808,808
2019	1,742,039
2020	1,728,722
2021	1,728,722
2022	1,695,365
Thereafter	5,619,349
	$	14,323,005