Goodwill and Intangible Assets

The Company has recorded goodwill of $18,555,578 as of June 30, 2016. There were no changes in the carrying amount of goodwill for the three and six month periods ended June 30, 2016. The Company considered whether there were indicators of impairment during the six month period ended June 30, 2016.

The Company has recorded intangible assets of $4,801,164, consisting of purchased intangibles and internally developed software used in the conduct of business. For the three and six month periods ended June 30, 2016, the Company capitalized internally developed software of approximately $233,500 substantially related to our Certificate-on-Device credentialing tools and applications. For the three and six month periods ended June 30, 2015, the Company capitalized internally developed software of approximately $186,400 related to our Public Key Infrastructure software certificate credentialing tools and applications. There were no disposals of intangible assets for the three and six month periods ended June 30, 2016 and 2015.

The aggregate amortization expense recorded for the three month periods ended June 30, 2016 and 2015 were approximately $266,900 and $262,500, respectively. The aggregate amortization expense recorded for the six month periods ended June 30, 2016 and 2015 were approximately $533,800 and $530,800, respectively. The total weighted average life of purchased and internally developed intangible assets is approximately 6.1 years at June 30, 2016.