INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2017

NOTE 6 – INTANGIBLE ASSETS

The Company had goodwill in the amount of $440,215 and $439,811 as of June 30, 2017 and December 31, 2016, respectively, subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.”

Goodwill at January 1, 2017	$	439,811
Goodwill as a result of the Acquisition of Chol-Mix Kft – see Note 2		404
Goodwill at June 30, 2017	$	440,215

	June 30, 2017		December 31, 2016
Human Nutrition & Health	$	404,187	$	404,187
Animal Nutrition & Health		12,138		11,734
Specialty Products		22,662		22,662
Industrial Products		1,228		1,228
Total	$	440,215	$	439,811

Identifiable intangible assets with finite lives at June 30, 2017 and December 31, 2016 are summarized as follows:

	Amortization Period (in years)		Gross Carrying Amount at 6/30/17		Accumulated Amortization at 6/30/17		Gross Carrying Amount at 12/31/16		Accumulated Amortization at 12/31/16
Customer relationships & lists		10	$	189,715	$	96,176	$	185,885	$	86,338
Trademarks & trade names		17		40,630		11,060		39,241		9,260
Developed technology		5		13,338		4,602		12,260		3,358
Other		5-17		13,065		4,333		12,713		3,659
			$	256,748	$	116,171	$	250,099	$	102,615

Amortization of identifiable intangible assets was approximately $13,545 for the six months ended June 30, 2017. Assuming no change in the gross carrying value of identifiable intangible assets, the estimated amortization expense for the remainder of 2017 is $13,190, approximately $24,485 for 2018, $22,375 for 2019, $20,370 for 2020, $17,180 for 2021 and $15,300 for 2022. At June 30, 2017, there were no identifiable intangible assets with indefinite useful lives as defined by ASC 350. Identifiable intangible assets are reflected in “Intangible assets with finite lives, net” in the Company’s condensed consolidated balance sheets. There were no changes to the useful lives of intangible assets subject to amortization during the six months ended June 30, 2017.