Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Note 8. INTANGIBLE ASSETS

Intangible assets with finite lives are amortized over their estimated useful lives. We recorded amortization expense of $527,498 and $42,480 during the six months ended June 30, 2016, and the year ended December 31, 2015, respectively. Based solely on the amortizable intangible assets recorded at June 30, 2016, we estimate amortization expense to be $1,249,290 in 2016, $1,651,560 in 2017, $1,622,532 in 2018, $1,609,080 in 2019, $1,609,080 in 2020 and an aggregate of $13,719,270 in years after 2020. Actual amortization expense to be reported in future periods could differ from these estimates as a result of new intangible asset acquisitions, changes in useful lives or other relevant factors or changes.

 

          June 30, 2016  
    Useful     Gross        
    Life     Carrying     Accumulated  
Amortized intangible assets:   in Years     Amount     Amortization  
                   
Customer relationships   5 to 15     $ 8,693,200     $ 309,908  
Trade Name   5 to 15     $ 4,666,898     $ 90,678  
Dispensary license   15     $ 8,214,700     $ 126,912  
Total         $ 21,574,798     $ 527,498