Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.7.0.1
Intangible Assets
12 Months Ended
Dec. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets
6. Intangible Assets

Intangible assets, net is as follows:
 December 31, 2016
 
Useful Lives
(Years)
   
Gross
Carrying
Amount
   
Accumulated
Amortization
   
Net Carrying
Amount
 
Long-lived intangible assets:
                       
Sales Process
   
10
   
$
3,970,000
   
$
(898,764
)
 
$
3,071,236
 
Paid Member Relationships
   
5
     
890,000
     
(402,972
)
   
487,028
 
Member Lists
   
5
     
8,957,000
     
(4,055,531
)
   
4,901,469
 
Developed Technology
   
3
     
978,000
     
(718,166
)
   
259,834
 
Trade Name/Trademarks
   
4
     
480,000
     
(269,861
)
   
210,139
 
Customer Relationships
   
5
     
280,000
     
(116,667
)
   
163,333
 
 
           
15,555,000
     
(6,461,961
)
   
9,093,039
 
Indefinite-lived intangible assets:
                               
Trade Name
                           
90,400
 
 
                               
Intangible assets, net
                         
$
9,183,439
 
 
December 31, 2015
 
Useful Lives
(Years)
   
Gross
Carrying
Amount
   
Accumulated
Amortization
   
Net Carrying
Amount
 
Long-lived intangible assets:
                       
Sales Process
   
10
   
$
3,970,000
   
$
(501,764
)
 
$
3,468,236
 
Paid Member Relationships
   
5
     
890,000
     
(224,972
)
   
665,028
 
Member Lists
   
5
     
8,957,000
     
(2,264,131
)
   
6,692,869
 
Developed Technology
   
3
     
978,000
     
(392,167
)
   
585,833
 
Trade Name/Trademarks
   
4
     
480,000
     
(149,860
)
   
330,140
 
Customer Relationships
   
5
     
280,000
     
(60,667
)
   
219,333
 
 
           
15,555,000
     
(3,593,561
)
   
11,961,439
 
Indefinite-lived intangible assets:
                               
Trade Name
                           
90,400
 
 
                               
Intangible assets, net
                         
$
12,051,839
 

Future annual estimated amortization expense is summarized as follows:

Years ending December 31,
     
2017
 
$
2,802,233
 
2018
   
2,563,872
 
2019
   
1,846,697
 
2020
   
397,000
 
2021
   
397,000
 
Thereafter
   
1,086,237
 
 
 
$
9,093,039
 

Amortization expense of $2,868,400 and $2,882,386 for the years ended December 31, 2016 and 2015, respectively, is recorded in depreciation and amortization expense in the accompanying consolidated statements of operations.