Quarterly report pursuant to sections 13 or 15(d)

Intangible Assets

v2.4.0.8
Intangible Assets
6 Months Ended
Jun. 30, 2013
Intangible Assets
5. Intangible Assets:

At June 30, 2013, the Company had the following intangible assets subject to amortization:

 

     June 30, 2013  
     Gross Carrying
Amount
     Accumulated
Amortization
    Net Carrying
Amount
 

Patents

   $ 267,904       $ (118,333   $ 149,571   

Trademarks

     4,314,000         (418,768     3,895,232   

Customer relationships

     8,283,000         (840,525     7,442,475   

Customer contracts

     1,599,000         (1,434,000     165,000   

Product certification and licensing costs

     61,017         (38,984     22,033   
  

 

 

    

 

 

   

 

 

 
   $ 14,524,921       $ (2,850,610   $ 11,674,311   
  

 

 

    

 

 

   

 

 

 

At December 31, 2012, the Company had the following intangible assets subject to amortization:

 

     December 31, 2012  
     Gross Carrying
Amount
     Accumulated
Amortization
    Net Carrying
Amount
 

Patents

   $ 267,904       $ (106,725   $ 161,179   

Trademarks

     4,314,000         (249,803     4,064,197   

Customer relationships

     8,283,000         (486,983     7,796,017   

Product certification and licensing costs

     61,017         (29,534     31,483   
  

 

 

    

 

 

   

 

 

 
   $ 12,925,921       $ (873,045   $ 12,052,876   
  

 

 

    

 

 

   

 

 

 

At June 30, 2013, the remaining estimated amortization expense is as follows:

 

Year Ending December 31:

  

2013

   $ 706,068   

2014

     1,078,909   

2015

     1,072,631   

2016

     1,068,230   

2017

     1,068,230   

Thereafter

     6,680,243   
  

 

 

 
   $ 11,674,311