XML 70 R10.htm IDEA: XBRL DOCUMENT

Intangible Assets

6 Months Ended

Jun. 30, 2014

Notes to Financial Statements

Note 3 - Intangible Assets

Intangible assets, and the related accumulated amortization, consist of the following:

		June 30, 2014								June 30, 2013								December 31, 2013
		Cost				Accumulated Amortization				Cost				Accumulated Amortization				Cost				Accumulated Amortization
Recipes		$	43,600			$	43,600			$	43,600			$	43,600			$	43,600			$	43,600
Customer lists and other customer related intangibles			4,504,200				2,700,754				4,504,200				2,249,544				4,504,200				2,474,790
Customer relationship			985,000				631,827				985,000				561,743				985,000				596,785
Trade names			2,248,000				1,103,266				2,248,000				953,402				2,248,000				1,028,334
Formula			438,000				346,750				438,000				302,950				438,000				324,850
		$	8,218,800			$	4,826,197			$	8,218,800			$	4,111,239			$	8,218,800			$	4,468,359

Amortization expense is expected to be approximately the following for the 12 months ending June 30:

2015		$	715,677
2016			715,677
2017			675,527
2018			671,877
2019			408,261
Thereafter			205,584
		$	3,392,603

Amortization expense during the six months ended June 30, 2014 and 2013 was $357,839 and $355,683, respectively.