Annual report pursuant to Section 13 and 15(d)

Note 7 - Goodwill and Intangible Assets, net (Tables)

v3.5.0.2
Note 7 - Goodwill and Intangible Assets, net (Tables)
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block] The following table summarizes the Company’s goodwill for the periods indicated resulting from the acquisitions by the Company:

 
 
Goodwill
 
 
     
Balance at December 31, 2014
 
$
-
 
Storycode acquisition
   
4,259,350
 
SwellPath acquisition
   
3,959,590
 
Balance at December 31, 2015
 
$
8,218,940
 
Schedule of Finite-Lived Intangible Assets [Table Text Block] The following table summarizes the Company’s intangible assets, net for the period indicated:

 
      December 31, 2015  
   
Estimated Useful Life (Years)
 
Gross Carrying Amount
 
Accumulated Amortization
   
Impairment
 
Net Book Value
 
 
                       
Trade names
 
3 to 7
   
$
340,000
   
$
41,925
   
$
-
   
$
298,075
 
Customer relationships
 
5
     
2,460,000
     
283,475
     
-
     
2,176,525
 
Non-compete agreements
 
1.5
     
128,000
     
69,250
     
-
     
58,750
 
Total Intangible assets, net
       
$
2,928,000
   
$
394,650
   
$
-
   
$
2,533,350
 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] The following table summarizes the Company’s future amortization expense for the periods indicated:

2016
 
$
572,653
 
2017
   
570,415
 
2018
   
590,917
 
2019
   
591,928
 
2020
   
152,437
 
Thereafter
   
55,000
 
Total future amortization expense
 
$
2,533,350