Annual report pursuant to Section 13 and 15(d)

6. Intangible Assets

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6. Intangible Assets
12 Months Ended
Dec. 31, 2016
Pro forma financial information  
6. Intangible Assets

All of the Company’s identifiable intangible assets are associated with its Business Services segment and as of December 31, 2016 and 2015 are comprised of:

 

    December 31, 2016   December 31, 2015  
                           
  Gross Carrying Amount   Accumulated Amortization   Total   Gross Carrying Amount   Accumulated Amortization   Total  
                           
Trademarks and tradename  $      1,093,400    $           (501,982)    $      591,418    $     1,093,400    $    (331,651)    $        761,749  
Proprietary technology            6,670,000              (4,036,915)         2,633,085           5,781,000       (2,756,433)           3,024,567  
Non-compete agreement          12,128,043              (9,891,892)         2,236,151         10,703,043       (9,220,255)           1,482,788  
Customer relationships          65,948,181              (7,827,697)       58,120,484         44,888,181       (4,412,819)         40,475,362  
Favorable lease intangible               218,000                 (181,667)              36,333              218,000          (138,067)                79,933  
Total acquired intangibles    $    86,057,624    $      (22,440,153)    $ 63,617,471    $   62,683,624   (16,859,225)    $   45,824,399  
                           

 

Aggregate amortization expense for each of the five years subsequent to December 31, 2016 is expected to be as follows: 

 

Year Amortization Expense
2017  $                 8,471,187
2018                     6,425,463
2019                     5,441,731
2020                     5,401,348
2021                     5,226,981