Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2013

At April 1, 2009, the purchase price has been 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

The following table represents changes in goodwill in 2013:


Balance as of December 31, 2012	$	1,983,426
Net deferred tax liability related to indefinite lived IPR&D		117,815
Foreign currency translation		38,053

Balance as of December 31, 2013	$	2,139,294

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


Other Intangible Asset Class	Cost		Acquisition		Impairment			Accumulated Amortization			Foreign Currency Translation		Net Carrying Amount		Weighted- Average Amortization Period
Customer relationships and developed technology	$	1,310,000	$	—	$	—		$	(876,535	)	$	156,966	$	590,431		8.0 years
In-process research and development		1,340,000		—		(654,961	)		(270,687	)		146,672		561,024		Indefinite
Trade name		310,000		—		—			(107,944	)		41,748		243,804		15.0 years
Patents		979,612		264,000		—			(803,154	)		—		440,458		17.0 years

Total other intangible assets	$	3,939,612	$	264,000	$	(654,961	)	$	(2,058,320	)	$	345,386	$	1,835,717		12.7 years

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