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Intangible Assets
 12 Months Ended
Dec. 31, 2011
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]
5. Intangible Assets

 

The Company has material intangible assets consisting of purchased intangibles and internally developed software used in the conduct of business. The following table summarizes purchased and internally developed intangible assets subject to amortization at December 31:

 

    2011
                      Weighted
                      Average
    Gross Carrying     Accumulated     Net Book     Amortization
    Amount     Amortization     Value     Period
                       
ORC Intangibles   $ 1,145,523     $ (1,145,523 )     -     5
iSYS Intangibles     1,230,000       (890,668 )     339,332     5
Protexx Intangibles     506,463       (506,463 )     -     3
ARCC Intangibles     355,000       (136,083 )     218,917     4
WSC Intangibles     2,942,428       -       2,942,428     4
ORC Developed Software     1,775,255       (1,404,277 )     370,978     3
WSC Developed Software     1,550,000       -       1,550,000     4
Intangibles, net   $ 9,504,669     $ (4,083,014 )   $ 5,421,655      

 

    2010
                      Weighted
                      Average
    Gross Carrying     Accumulated     Net Book     Amortization
    Amount     Amortization     Value     Period
                       
ORC Intangibles   $ 1,145,523     $ (1,145,523 )   $ -     5
iSYS Intangibles     1,230,000       (703,001 )     526,999     5
Protexx Intangibles     506,463       (407,984 )     98,479     3
ARCC Intangibles     355,000       (65,083 )     289,917     4
ORC Developed Software     1,424,286       (1,235,130 )     189,156     3
Intangibles, net   $ 4,661,272     $ (3,556,721 )   $ 1,104,551      

 

For the year ended December 31, 2011, the Company recognized intangible assets of $4,492,428 in connection with a business combination. See Note 8 for additional information about the fair value determination and recognition. During the same period the Company recorded capitalized software costs totaling approximately $351,000.

 

For the year ended December 31, 2010, the Company recognized intangible assets of $506,463 in connection with business combinations. See Note 8 for additional information about the fair value determination and recognition. During the same period the Company recorded capitalized software costs totaling approximately $74,000.

 

The total weighted average life of purchased and internally developed intangible assets is approximately 4.0 years and 2.5 years, respectively, at December 31, 2011.

 

The following table summarizes reflects estimated future amortization for purchased intangible assets for fiscal years ending December 31:

 

2012   $ 1,560,684  
2013     1,483,767  
2014     1,248,181  
2015     1,129,023  
Total   $ 5,421,655  

 

 

The aggregate amortization expense recorded was approximately $526,293 and $706,085 for the years ended December 31, 2011 and 2010, respectively.