| Note 6. INTANGIBLE ASSETS |
As
of March 31, 2017 and December 31, 2016, intangible assets consisted of the following:
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March
31, 2017 |
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December
31, 2016 |
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|
Estimated
Useful Life in Years |
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|
Gross
Carrying Amount |
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|
Accumulated
Amortization |
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|
Net
Carrying
Value
|
|
|
Gross
Carrying Amount |
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|
Accumulated
Amortization |
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|
Net
Carrying
Value
|
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| Amortized
Intangible Assets: |
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|
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|
|
|
|
|
|
|
|
|
|
|
| Customer
Relationships |
|
5 to 12 |
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|
$ |
8,960,700 |
|
|
$ |
(999,744 |
) |
|
$ |
7,960,956 |
|
|
$ |
8,960,700 |
|
|
$ |
(780,960 |
) |
|
$ |
8,179,740 |
|
| Trade
Brands and Patent |
|
2 to 8 |
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|
|
498,598 |
|
|
|
(118,409 |
) |
|
|
380,189 |
|
|
|
498,598 |
|
|
|
(91,061 |
) |
|
|
407,537 |
|
| Dispensary
License |
|
14 |
|
|
|
10,270,000 |
|
|
|
(733,572 |
) |
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|
9,536,428 |
|
|
|
10,270,000 |
|
|
|
(550,179 |
) |
|
|
9,719,821 |
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| Total
Amortized Intangible Assets |
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|
|
|
|
19,729,298 |
|
|
|
(1,851,725 |
) |
|
|
17,877,573 |
|
|
|
19,729,298 |
|
|
|
(1,422,200 |
) |
|
|
18,307,098 |
|
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| Unamortized
Intangible Assets: |
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|
|
|
|
|
|
|
|
|
|
|
|
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| Trade
Name |
|
Indefinite |
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|
|
5,320,000 |
|
|
|
|
|
|
|
5,320,000 |
|
|
|
5,320,000 |
|
|
|
|
|
|
|
5,320,000 |
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| Total
Unamortized Intangible Assets |
|
|
|
|
|
5,320,000 |
|
|
|
|
|
|
|
5,320,000 |
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|
|
5,320,000 |
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|
|
|
|
|
|
5,320,000 |
|
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|
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| Total
Intangible Assets |
|
|
|
|
$ |
25,049,298 |
|
|
$ |
(1,851,725 |
) |
|
$ |
23,197,573 |
|
|
$ |
25,049,298 |
|
|
$ |
(1,422,200 |
) |
|
$ |
23,627,098 |
|
Intangible
assets with finite lives are amortized over their estimated useful lives. We recorded amortization expense of $429,525 and $10,620
for the three months ended March 31, 2017 and 2016, respectively.
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