XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Goodwill and Intangible Assets (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Finite-Lived Intangible Assets | The changes in the carrying amount of intangible assets for the year ended December 31, 2015 and 2014 were as follows:
|  | 2015 |  |  | 2014 |
Balance at beginning of year |  | $ | 3,307,797 |  |  | $ | 3,724,354 |
Addition: Acquisition of patent |  |  | 125,000 |  |  |  | - |
Addition: Non-compete agreement |  |  | - |  |  |  | 587,500 |
Deduction: Disposal of trademarks (Note 6) |  |  | (64,819 | ) |  |  | - |
Deduction: Amortization expense |  |  | (897,851 | ) |  |  | (1,004,057 | )
Balance at end of year |  | $ | 2,470,127 |  |  | $ | 3,307,797 |
Schedule of Intangible Assets and Goodwill | The following table sets forth the components of intangible assets as of December 31, 2015 and 2014:
|  |  |  | As of December 31, 2015 |
|  | Estimated |  | Adjusted |  |  |  |  |  |  |
|  | Useful |  | Carrying |  |  | Accumulated |  |  |  |
|  | Life |  | Amount |  |  | Amortization |  |  | Net |
Trade name |  | 20 years |  | $ | 590,172 |  |  | $ | (271,924 | ) |  | $ | 318,248 |
Patents and copyrights |  | 17 years |  |  | 1,242,842 |  |  |  | (576,680 | ) |  |  | 666,162 |
Non-compete agreements |  | 15 months |  |  | 897,500 |  |  |  | (897,500 | ) |  |  | - |
Developed technology |  | 7 years |  |  | 3,941,310 |  |  |  | (3,941,310 | ) |  |  | - |
Non-contractual customer relationships |  | 15 years |  |  | 3,268,568 |  |  |  | (1,782,851 | ) |  |  | 1,485,717 |
|  |  |  | $ | 9,940,392 |  |  | $ | (7,470,265 | ) |  |  | 2,470,127 |
|  | As of December 31, 2014 |
|  | Adjusted |  |  |  |  |  |  |
|  | Carrying |  |  | Accumulated |  |  |  |
|  | Amount |  |  | Amortization |  |  | Net |
Trade name |  | $ | 704,458 |  |  | $ | (291,877 | ) |  | $ | 412,581 |
Patents and copyrights |  |  | 1,117,842 |  |  |  | (511,698 | ) |  |  | 606,144 |
Non-compete agreements |  |  | 897,500 |  |  |  | (427,500 | ) |  |  | 470,000 |
Developed technology |  |  | 3,941,310 |  |  |  | (3,829,900 | ) |  |  | 111,410 |
Non-contractual customer relationships |  |  | 3,268,568 |  |  |  | (1,560,906 | ) |  |  | 1,707,662 |
|  | $ | 9,929,678 |  |  | $ | (6,621,881 | ) |  |  | 3,307,797 |
Finite-lived Intangible Assets Amortization Expense | The following summarizes amortization of acquisition related intangible assets included in the statement of operations:
|  | Years Ended December 31, |
|  | 2015 |  |  | 2014 |
Cost of sales |  | $ | 348,061 |  |  | $ | 724,044 |
General and administrative |  |  | 549,790 |  |  |  | 280,013 |
|  | $ | 897,851 |  |  | $ | 1,004,057 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The Company expects that amortization expense for the next five succeeding years will be as follows:
2016 |  | $ | 315,564 |
2017 |  | $ | 315,564 |
2018 |  | $ | 315,564 |
2019 |  | $ | 290,897 |
2020 |  | $ | 241,564 |

X
- Definition Tabular disclosure of amortization expense of assets, excluding financial assets, that lack physical substance, having a limited useful life. + References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 + Details
Name: | us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration