Quarterly report pursuant to sections 13 or 15(d)

5. Intangible Assets (Tables)

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5. Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
Identifiable intangible assets

Identifiable intangible assets as of March 31, 2013 and December 31, 2012 are comprised of: 

 

    March 31, 2013 (unaudited)     December 31, 2012        
    Gross Carrying Amount     Accumulated Amortization     Total     Gross Carrying Amount     Accumulated Amortization     Total  
Intangibles associated with the acquisition of NBS:                    
Trademarks and tradename   $ 563,000     $ (23,458 )   $ 539,542     $ 563,000     $ (9,383 )   $ 553,617  
Proprietary technology     1,903,000       (158,583 )     1,744,417       1,903,000       (63,433 )     1,839,567  
Non-compete agreement     3,257,000       (452,361 )     2,804,639       3,257,000       (180,944 )     3,076,056  
Customer contracts     9,824,000       (269,639 )     9,554,361       9,824,000       (107,856 )     9,716,144  
Favorable lease intangible     218,000       (18,167 )     199,833       218,000       (7,267 )     210,733  
Total acquired intangibles     15,765,000       (922,208 )     14,842,792       15,765,000       (368,883 )     15,396,117  
Other intangibles:                                                
Trademarks     315,745       (315,745 )     -       315,745       (315,745 )     -  
Intellectual property     86,397       (86,397 )     -       86,397       (86,397 )     -  
Total   $ 16,167,142     $ (1,324,350 )   $ 14,842,792     $ 16,167,142     $ (771,025 )   $ 15,396,117  
Estimated future aggregate amortization expense

Amortization expense was $553,325 and $29,052 for the three months ended March 31, 2013 and 2012, respectively.  Estimated future aggregate amortization expense is as follows for the periods indicated:

 

Year ending December 31: 2013   $ 1,659,362  
2014     2,212,482  
2015     2,031,538  
2016     1,126,816  
2017     1,056,116