6. Intangible Assets, Net

3 Months Ended

12 Months Ended

Mar. 31, 2019

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

	March 31, 2019						December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net book value		Gross Carrying Amount		Accumulated Amortization		Net book value
Intangible assets with determinable lives:

Content provider and photographic agreements	$	400,000	$	150,000	$	250,000	$	400,000	$	140,000	$	260,000
Copyrights		35,000		13,125		21,875		35,000		12,250		22,750
Internal use software		58,667		-		58,667		-		-		-
Copyrighted Image Library		4,100,000		203,315		3,896,685		4,100,000		102,500		3,997,500
Non-Compete and Non-Solicitation Covenants		90,000		14,878		75,122		90,000		7,500		82,500
Trade name		340,000		–		340,000		340,000		–		340,000
License agreements		9,000,000		297,534		8,702,466		9,000,000		150,000		8,850,000
Customer relationships		2,330,000		231,085		2,098,915		2,330,000		116,500		2,213,500
Total	$	16,353,667	$	909,937	$	15,443,730	$	16,295,000	$	528,750	$	15,766,250

Total amortization expense for the three months ended March 31, 2019 and 2018 was $381,186 and $10,875, respectively and is included in cost of sales in the consolidated statements of operations. Estimated amortization expense over the next five years is $1,549,500 per year.

INTANGIBLE ASSETS, NET

	December 31, 2018						December 31, 2017
	Gross Carrying Amount		Accumulated Amortization		Net book value		Gross Carrying Amount		Accumulated Amortization		Net book value
Intangible assets with determinable lives:

Content provider and photographic agreements	$	400,000	$	140,000	$	260,000	$	400,000	$	60,000	$	340,000
Memorabilia Inventory		35,000		12,250		22,750		35,000		5,250		29,750
Copyrighted Image Library		4,100,000		102,500		3,997,500		–		–		–
Non-Compete and Non-Solicitation Covenants		90,000		7,500		82,500		–		–		–
Trade name		340,000		–		340,000		–		–		–
License agreements		9,000,000		150,000		8,850,000		–		–		–
Customer relationships		2,330,000		116,500		2,213,500		–		–		–
Total	$	16,295,000	$	528,750	$	15,766,250	$	435,000	$	65,250	$	369,750

Total amortization expense for the twelve months ended December 31, 2018 and 2017 was $420,000 and $43,500, respectively and is included in cost of sales in the consolidated statements of operations. Estimated amortization expense over the next five years is $1,545,374 per year.

Globe Photos, Inc. S-1/A