Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangibles Assets (Tables)

v3.7.0.1
Goodwill and Intangibles Assets (Tables)
12 Months Ended
Dec. 31, 2016
Goodwill and Intangibles Assets [Abstract]  
Goodwill



 

 

 



 

 

 

 

 

Goodwill

December 31, 2014

 

$

1,921,072 

Acquired

 

 

 -

Impairment

 

 

 -

December 31, 2015

 

 

1,921,072 

Acquired

 

 

1,129,493 

Impairment

 

 

(2,247,447)

December 31, 2016

 

$

803,118 



Intangible Assets



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2016

 

December 31, 2015

 

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net Carrying
Amount

Weighted
Average
Useful
Life
(Years)

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net Carrying
Amount

 

Weighted
Average
Useful
Life
(Years)

Patents and trademarks

 

$

161,298 

 

$

(48,761)

 

$

112,537  12 

 

$

117,000 

 

$

(38,069)

 

$

78,931 

 

15 

Customer contracts

 

 

 -

 

 

 -

 

 

 -

 -

 

 

628,502 

 

 

(628,502)

 

 

 -

 

 -

Customer and merchant
relationships

 

 

1,620,112 

 

 

(1,442,112)

 

 

178,000  10 

 

 

2,830,139 

 

 

(1,456,626)

 

 

1,373,513 

 

10 

Trade name

 

 

171,883 

 

 

(124,224)

 

 

47,659  10 

 

 

353,192 

 

 

(217,625)

 

 

135,567 

 

10 

Acquired technology

 

 

521,540 

 

 

(521,540)

 

 

 -

10 

 

 

686,135 

 

 

(498,837)

 

 

187,298 

 

10 

Non-compete agreement

 

 

7,443 

 

 

(7,443)

 

 

 -

 -

 

 

90,462 

 

 

(90,462)

 

 

 -

 

 -

 

 

$

2,482,276 

 

$

(2,144,080)

 

$

338,196 

 

 

$

4,705,430 

 

$

(2,930,121)

 

$

1,775,309 

 

 



Future Amortization Intangible Assets



 

 

 



 

 

 

Year ending December 31,

 

Amount

2017

 

$

43,029 

2018

 

 

43,029 

2019

 

 

43,029 

2020

 

 

42,927 

2021

 

 

40,148 

Thereafter

 

 

126,034 

Total

 

$

338,196