Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.8.0.1
Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets [Abstract]  
Goodwill



 

 

 



 

 

 

 

 

Goodwill

December 31, 2015

 

$

1,921,072 

Acquired

 

 

1,129,493 

Impairment

 

 

(2,247,447)

December 31, 2016

 

 

803,118 

Acquired

 

 

 -

Impairment

 

 

 -

December 31, 2017

 

$

803,118 



Intangible Assets



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

December 31, 2017

 

December 31, 2016

 

 

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

 

$

179,053 

 

$

(60,875)

 

$

118,178  15 

 

$

161,298 

 

$

(48,761)

 

$

112,537 

 

12 

Customer and merchant
relationships

 

 

1,620,112 

 

 

(1,466,664)

 

 

153,448  10 

 

 

1,620,112 

 

 

(1,442,112)

 

 

178,000 

 

10 

Trade name

 

 

171,969 

 

 

(130,936)

 

 

41,033  10 

 

 

171,883 

 

 

(124,224)

 

 

47,659 

 

10 

Acquired technology

 

 

521,540 

 

 

(521,540)

 

 

 -

10 

 

 

521,540 

 

 

(521,540)

 

 

 -

 

10 

Non-compete agreement

 

 

 -

 

 

 -

 

 

 -

 -

 

 

7,443 

 

 

(7,443)

 

 

 -

 

 -

 

 

$

2,492,674 

 

$

(2,180,015)

 

$

312,659 

 

 

$

2,482,276 

 

$

(2,144,080)

 

$

338,196 

 

 



Future Amortization Intangible Assets



 

 

 



 

 

 

Year ending December 31,

 

Amount

2018

 

$

43,082 

2019

 

 

43,082 

2020

 

 

43,082 

2021

 

 

40,569 

2022

 

 

40,148 

Thereafter

 

 

102,696 

Total

 

$

312,659