Quarterly report pursuant to Section 13 or 15(d)

3. INTANGIBLE ASSETS AND GOODWILL (Tables)

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3. INTANGIBLE ASSETS AND GOODWILL (Tables)
6 Months Ended
Jun. 30, 2012
Intangible Assets And Goodwill Tables  
Carrying value of intangible assets

Total identifiable intangible assets acquired and their carrying values at June 30, 2012 are:

 

   

 

 

Cost

   

Accumulated

Amortization

    Carrying Value    

Weighted Average

Amortization

Period (Years)

 
Amortized Identifiable Intangible Assets:                        
Subscriber lists – EthoStream   $ 2,900,000     $ (1,278,863 )   $ 1,621,137       12.0  
Total Amortized Identifiable Intangible Assets     2,900,000        (1,278,863 )      1,621,137          
Goodwill – EthoStream   5,796,430       -       5,796,430          
Goodwill – SSI   2,774,016       -       2,774,016          
Total Goodwill     8,570,446       -       8,570,446          
Total   $ 11,470,446     $ (1,278,863 )   $ 10,191,583          

   

 

 

Total identifiable intangible assets acquired and their carrying values at December 31, 2011 are:

 

    Cost    

Accumulated

Amortization

    Impairment     Carrying Value    

Weighted Average

Amortization Period

(Years)

 
Amortized Identifiable Intangible Assets:                              
Subscriber lists – EthoStream   $ 2,900,000     $ (1,158,023 )   $ -     $ 1,741,977       12.0  
Total Amortized Identifiable Intangible Assets     2,900,000       (1,158,023 )     -       1,741,977          
Goodwill – EthoStream   5,796,430       -       -       5,796,430          
Goodwill – SSI   5,874,016       -       (3,100,000)         2,774,016          
Total Goodwill   11,670,446       -       (3,100,000)       8,570,446          
Total   $ 14,570,446     $ (1,158,023 )   $ (3,100,000)     $ 10,312,423          

 

Total amortization expense charged to operations for each of the three and six months ended June 30, 2012 and 2011 was $60,420 and $120,840, respectively.

Estimated amortization expense

Estimated amortization expense as of June 30, 2012 is as follows:

  

Remainder of 2012     $ 120,840  
2013       241,680  
2014       241,680  
2015       241,680  
2016       241,680  
2017       241,680  
2018 and after       291,897  
Total     $ 1,621,137