Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 4 - Goodwill and Intangible Assets

 

Goodwill and intangible assets consisted of the following

                   
        September 30, 2015  
    Estimated
Life
In Years
  Gross
Amount
  Accumulated
Amortization
 
                   
Goodwill   Indefinite   $ 2,201,828     —  
Intangible Assets                  
Intangible assets not subject to amortization                  
Trademarks   Indefinite     294,268     —  
Intangible assets subject to amortization                  
Customer list   5 - 15     897,274     833,450  
Non-compete agreements   4     262,147     262,147  
                   
Total Intangible Assets         1,453,689     1,095,597  
                   
Total Goodwill and Intangible Assets       $ 3,655,517   $ 1,095,597  

 

 

Scheduled amortization over the next five years as follows: 

         
For The Twelve Months Ending September 30,        
2016   $ 30,635  
2017     30,635  
2018     2,554  
Total   $ 63,824  

 

Amortization expense for the nine months ended September 30, 2015 and 2014 was $91,184 and $164,629 respectively.