Quarterly report pursuant to Section 13 or 15(d)

5. Intangible Assets

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5. Intangible Assets
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
5. Intangible Assets

Intangible assets as of June 30, 2017 and December 31, 2016 are as follows:

 

    June 30, 2017     December 31, 2016  
    Gross Carrying Amount     Accumulated Amortization     Total     Gross Carrying Amount     Accumulated Amortization     Total  
                                     
Trademarks and tradename   $ 1,093,400     $ (587,148 )   $ 506,252     $ 1,093,400     $ (501,982 )   $ 591,418  
Proprietary technology     6,670,000       (4,697,869 )     1,972,131       6,670,000       (4,036,915 )     2,633,085  
Non-compete agreement     12,128,043       (10,890,367 )     1,237,676       12,128,043       (9,891,892 )     2,236,151  
Customer relationships     67,713,181       (10,467,985 )     57,245,196       65,948,181       (7,827,697 )     58,120,484  
Favorable lease intangible     218,000       (203,466 )     14,534       218,000       (181,667 )     36,333  
Total acquired intangibles   $ 87,822,624     $ (26,846,835 )   $ 60,975,789     $ 86,057,624     $ (22,440,153 )   $ 63,617,471  

 

Amortization expense was $2.2 million and $1.4 million for the three months ended June 30, 2017 and 2016, respectively, and $4.4 million and $2.8 million for the six months ended June 30, 2017 and 2016, respectively. Estimated future aggregate amortization expense is expected to be as follows:

 

Year     Amortization Expense  
remainder of 2017     $ 4,177,862  
2018       6,561,232  
2019       5,577,500  
2020       5,537,117  
2021       5,362,750