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Acquisitions, Goodwill and Other Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2013
Other Intangible Assets

Other intangible assets consisted of the following at June 30, 2013:

 

     Gross
Carrying
Amount
     Accumulated
Amortization
    Weighted
Average
Useful Life
(in years)
 

Technology – developed

   $ 1,431,975       $ (445,130     8   

Patents

     240,000         (102,500     8   

Customer relationships

     6,679,367         (1,304,722     8   
  

 

 

    

 

 

   

Total other intangible assets

   $ 8,351,342       $ (1,852,352     8   
  

 

 

    

 

 

   

Other intangible assets consisted of the following at December 31, 2012:

 

     Gross
Carrying
Amount
     Accumulated
Amortization
    Weighted
Average
Useful Life
(in years)
 

Technology – developed

   $ 1,452,729       $ (360,748     8   

Patents

     240,000         (87,500     8   

Customer relationships

     6,872,383         (934,852     8   
  

 

 

    

 

 

   

Total other intangible assets

   $ 8,565,112       $ (1,383,100     8