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Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2013
Goodwill and Other Intangible Assets [Abstract]  
Purchase price allocated

The purchase price was allocated as follows:

 

                 
    Allocated purchase
Price		     Estimated life of
intangible assets
in years		  

Net tangible assets

   $ 36,000          

Intangible assets:

                

Customer relationships and developed technology

     1,310,000       6 to 9  

In-process research and development

     1,340,000       N/A  

Trade name

     310,000       15  

Goodwill

     2,139,000       N/A  
   

 

 

          

Total

   $ 5,135,000          
   

 

 

          
Changes in goodwill

The following table presents changes in goodwill:

 

         

Balance as of December 31, 2012

   $ 1,983,426  

Foreign currency translation

     (130,384 ) 
   

 

 

  

Balance as of March 31, 2013

   $ 1,853,042  
   

 

 

  
Components of other intangible assets

The components of our other intangible assets at March 31, 2013 are summarized below:

 

                                                         

Other Intangible Asset Class

   Cost     Additions     Impairment     Accumulated
Amortization		     Foreign Currency
Translation		     Net Carrying
Amount		     Weighted-
Average
Amortization
Period		  

Customer relationships and developed technology

   $ 1,310,000     $ —       $ —       $ (739,476 )    $ 103,454     $ 673,978       8.0 years  

In-process research and development

     1,340,000       —         (654,961 )      (270,687 )      99,925       514,277       Indefinite  

Trade name

     310,000       —         —         (91,073 )      20,904       239,831       15.0 years  

Patents

     979,612       64,000       —         (753,433 )      —         290,179       16.0 years  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total other intangible assets

   $ 3,939,612     $ 64,000     $ (654,961 )    $ (1,854,669 )    $ 224,283     $ 1,718,265       12.2 years  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
Expected future annual amortization expense

The expected future annual amortization expense for each of the next five years based on current balances of our intangible assets is approximately as follows:

 

         

For the year ending December 31:

        

2013

   $ 276,000  

2014

   $ 268,000  

2015

   $ 268,000  

2016

   $ 262,000  

2017

   $ 240,000