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Other Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2013
Other Intangible Assets  
Schedule of carrying values of definite-lived intangible assets

 

 

 

 

Patents

 

Non-compete

 

Customer list

 

Total

 

Estimated useful life

 

14 years

 

5 yeats

 

5 years

 

 

 

Gross amount at March 31, 2013

 

428,806

 

512,000

 

2,306,436

 

3,247,242

 

Accumulated amortization at March 31, 2013

 

(428,806

)

(180,701

)

(687,447

)

(1,296,954

)

Net balance at March 31, 2013

 

 

331,299

 

1,618,989

 

1,950,288

 

Gross amount at December 31, 2012

 

428,806

 

512,000

 

2,306,436

 

3,247,242

 

Accumulated amortization at December 31, 2012

 

(428,806

)

(156,500

)

(577,995

)

(1,163,301

)

Net balance at December 31, 2012

 

 

355,500

 

1,728,441

 

2,083,941

 

Schedule of future amortization expense related to intangible assets

 

 

Remainder of:

 

 

 

2013

 

$

395,951

 

2014

 

444,937

 

2015

 

369,800

 

2016

 

369,800

 

2017

 

369,800

 

Total

 

$

1,950,288