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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2013
Intangible Assets

Intangible assets consisted of the following at September 30, 2013:

 

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

Technology – developed

   $ 1,460,204       $ (494,465     8   

Patents

     240,000         (110,000     8   

Customer relationships

     6,941,895         (1,556,102     8   
  

 

 

    

 

 

   

Total intangible assets

   $ 8,642,099       $ (2,160,567     8   
  

 

 

    

 

 

   

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 intangible assets

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