Intangible Assets Other Than Goodwill
6 Months Ended
Jun. 30, 2020
INTANGIBLE ASSETS OTHER THAN GOODWILL [Abstract]  
INTANGIBLE ASSETS OTHER THAN GOODWILL

NOTE 5: INTANGIBLE ASSETS OTHER THAN GOODWILL

 

Intangible assets

 

June 30,

2020

 

 

December 31,

2019

 

Acquisition cost

 

$

178,642

 

 

$

178,642

 

Accumulated amortization

 

 

(77,275

) 

 

 

(74,488

) 

Total Intangible assets net book value

 

$

101,367

 

 

$

104,154

 

 

 

 

 

 

 

 

 

 

 

Amortization expense, net for the three month periods ended June 30, 2020 and 2019 amounted to $1,394 and $1,395, respectively, and for the six month periods ended June 30, 2020 and 2019 amounted to $2,787 and $2,780, respectively.

The remaining aggregate amortization of acquired intangibles as of June 30, 2020 will be as follows:

 

 

 

 

 

 

Period

 

 

 

Year One

 

$

5,581

 

Year Two

 

 

5,581

 

Year Three

 

 

5,581

 

Year Four

 

 

5,588

 

Year Five

 

 

5,581

 

Thereafter

 

 

73,455

 

Total

 

$

101,367