Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.19.2
Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2019
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Schedule of Intangible Assets

Intangible assets, net is as follows:

 

June 30, 2019  

Useful Lives

(Years)

   

Gross

Carrying

Amount

   

Accumulated

Amortization

   

Net Carrying

Amount

 
Long-lived intangible assets:                                
Sales Process     10     $ 2,130,956     $  (1,730,868 )   $ 400,088  
Paid Member Relationships     5       803,472        (788,638 )     14,834  
Member Lists     5       8,086,181        (7,936,897 )     149,284  
Developed Technology     3       648,000        (648,000 )     -  
Trade Name/Trademarks     4       440,000        (440,000 )     -  
            $ 12,108,609     $  (11,544,403 )     564,206  
Indefinite-lived intangible assets:                                
Trade Name                             90,400  
                                 
Intangible assets, net                           $ 654,606  

 

December 31, 2018  

Useful Lives

(Years)

   

Gross

Carrying

Amount

   

Accumulated

Amortization

   

Net Carrying

Amount

 
Long-lived intangible assets:                                
Sales Process     10     $ 2,130,956     $ (1,692,764 )   $ 438,192  
Paid Member Relationships     5       803,472       (758,972 )     44,500  
Member Lists     5       8,086,181       (7,638,331 )     447,850  
Developed Technology     3       648,000       (648,000 )     -  
Trade Name/Trademarks     4       440,000       (440,000 )     -  
            $ 12,108,609     $ (11,178,067 )     930,542  
Indefinite-lived intangible assets:                                
Trade Name                             90,400  
                                 
Intangible assets, net                           $ 1,020,942  
Schedule of Future Annual Estimated Amortization Expense

Future annual estimated amortization expense is summarized as follows:

 

Years ending December 31,      
2019      198,908  
2020      69,581  
2021      69,581  
2022      69,581  
Thereafter      156,555  
    $ 564,206