Other Intangible Assets

9 Months Ended

Sep. 30, 2013

(9) Other Intangible Assets

The carrying values of the company’s definite lived intangible assets as of September 30, 2013, and December 31, 2012, are as follows:

	Patents			Non-compete			Customer list			Total
Estimated useful life	14 years			5 years			5 years
Gross amount at September 30, 2013	$	428,806		$	512,000		$	2,046,436		$	2,987,242
Accumulated amortization at September 30, 2013	(428,806		)	(225,800		)	(866,895		)	(1,521,501		)
Net balance at September 30, 2013	$	—		$	286,200		$	1,179,541		$	1,465,741
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

Amortization expense related to intangible assets was $119,400 and $40,051 for the three-month periods ended September 30, 2013, and 2012, respectively, and $358,200 and $123,707 for the nine-month periods ended September 30, 2013, and 2012, respectively. Future amortization will be:

Remainder of:
2013	$	119,400
2014	392,933
2015	317,796
2016	317,796
2017	317,816
Total	$		1,465,741