Quarterly report pursuant to Section 13 or 15(d)

11. Obligations Under Asset Purchase Agreements

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11. Obligations Under Asset Purchase Agreements
3 Months Ended
Mar. 31, 2017
Obligations Under Asset Purchase Agreements  
11. Obligations Under Asset Purchase Agreements

In connection with certain acquisitions and asset purchases completed by the Company during 2015, 2016 and 2017, the Company has various obligations to the sellers, mainly for payments of portions of the purchase price that have been deferred under the terms of the respective purchase and sale agreements. Such obligations to sellers or other parties associated with these transactions as of March 31, 2017 and December 31, 2016 are as follows:

 

    March 31,     December 31,  
    2017     2016  
Root Axcess   $ -     $ 166,668  
Customer base acquisitions     1,316,417       334,025  
Technology For Business, Inc.     911,606       936,606  
      2,228,023       1,437,299  
Less: current portion     (912,212 )     (546,488 )
Long-term portion   $ 1,315,811     $ 890,811