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Management Contracts Purchased (Tables)

9 Months Ended

Jun. 30, 2014

Text Block [Abstract]

Schedule of Contingent Payment Due under Asset Purchase Agreement

Of the $13,286,666 of debt proceeds, $11,625,883 was shown as a long-term liability on the balance sheet as of September 30, 2013 because it was funded by U.S. Bank National Association on a long-term basis. During the nine months ended June 30, 2014, additional transaction costs related to the purchase in the amount of $58,232 were capitalized.

Management contracts balance at September 30, 2013 (inclusive of a contingent purchase price for assets related to management of the former FBR Funds of $19,193,595)		$	62,431,018
Capitalized transaction costs in the nine months ended June 30, 2014			58,232
Management contracts balance at June 30, 2014		$	62,489,250
Contingent purchase price payment allocation at September 30, 2013
Current portion		$	7,567,712
Long-term portion			11,625,883
Total contingent purchase price		$	19,193,595

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- Definition

Tabular disclosure of acquired indefinite-lived intangible assets. Indefinite-lived intangible assets are assets that have no physical form, but have expected future economic benefit. Indefinite-lived assets are assets that are not subject to amortization. Acquired indefinite-lived intangible assets are disclosed by major class (assets that can be grouped together because they are similar, either by their nature or by their use in operations of the entity) and in total.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275

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