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Intangible Assets
 12 Months Ended
Dec. 31, 2013
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

5. Intangible Assets

The components of intangible assets are as follows:

 

December 31, 2013    Estimated
Useful Life		      Gross Carrying
Amount		      Accumulated
Amortization		      Net  

Finite lived intangible assets:

            

Customer relationships

      5 years       $ 12,720,000       $ 1,166,000       $ 11,554,000   

Trademarks

      7 years         6,230,000         407,917         5,822,083   

Patents

      7 years         230,683         216,951         13,732   

Customer lists

      5 years         307,153         60,004         247,149   
     

 

 

     

 

 

     

 

 

  

Total intangible assets

       $ 19,487,836       $ 1,850,872       $ 17,636,964   
     

 

 

     

 

 

     

 

 

  

Goodwill

      Indefinite       $ 58,337,290          $ 58,337,290   
     

 

 

        

 

 

  

We compute amortization using the straight-line method over the estimated useful lives of the assets. The amortization expense related to intangible assets subsequent to July 16, 2013 is $1,608,426 for the period ending December 31, 2013. We expect amortization expense to be approximately $3.5 million in the years ending 2014 through 2017 and approximately $2.1 million in the year ending 2018. We have no indefinite-lived intangible assets other than goodwill. The goodwill is not deductible for tax purposes.