| Intangible assets |
As
of March 31, 2017 and December 31, 2016, intangible assets consisted of the following:
| |
|
|
|
|
March
31, 2017 |
|
|
December
31, 2016 |
|
| |
|
Estimated
Useful Life in Years |
|
|
Gross
Carrying Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Value
|
|
|
Gross
Carrying Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Value
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortized
Intangible Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer
Relationships |
|
5 to 12 |
|
|
$ |
8,960,700 |
|
|
$ |
(999,744 |
) |
|
$ |
7,960,956 |
|
|
$ |
8,960,700 |
|
|
$ |
(780,960 |
) |
|
$ |
8,179,740 |
|
| Trade
Brands and Patent |
|
2 to 8 |
|
|
|
498,598 |
|
|
|
(118,409 |
) |
|
|
380,189 |
|
|
|
498,598 |
|
|
|
(91,061 |
) |
|
|
407,537 |
|
| Dispensary
License |
|
14 |
|
|
|
10,270,000 |
|
|
|
(733,572 |
) |
|
|
9,536,428 |
|
|
|
10,270,000 |
|
|
|
(550,179 |
) |
|
|
9,719,821 |
|
| Total
Amortized Intangible Assets |
|
|
|
|
|
19,729,298 |
|
|
|
(1,851,725 |
) |
|
|
17,877,573 |
|
|
|
19,729,298 |
|
|
|
(1,422,200 |
) |
|
|
18,307,098 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unamortized
Intangible Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade
Name |
|
Indefinite |
|
|
|
5,320,000 |
|
|
|
|
|
|
|
5,320,000 |
|
|
|
5,320,000 |
|
|
|
|
|
|
|
5,320,000 |
|
| Total
Unamortized Intangible Assets |
|
|
|
|
|
5,320,000 |
|
|
|
|
|
|
|
5,320,000 |
|
|
|
5,320,000 |
|
|
|
|
|
|
|
5,320,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Intangible Assets |
|
|
|
|
$ |
25,049,298 |
|
|
$ |
(1,851,725 |
) |
|
$ |
23,197,573 |
|
|
$ |
25,049,298 |
|
|
$ |
(1,422,200 |
) |
|
$ |
23,627,098 |
|
|