Quarterly report pursuant to sections 13 or 15(d)

4. Intangible Assets

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4. Intangible Assets
3 Months Ended
Mar. 31, 2014
Notes to Financial Statements  
4. Intangible Assets

4.      Intangible Assets

Identifiable intangible assets as of March 31, 2014 and December 31, 2013 are comprised of: 

 

    March 31, 2014   December 31, 2013
    Gross Carrying Amount   Accumulated Amortization   Total   Gross Carrying Amount   Accumulated Amortization   Total
Intangibles associated with
the acquisition of NBS:
                                               
Trademarks and tradename   $ 563,000     $ (79,758 )   $ 483,242     $ 563,000     $ (65,683 )   $ 497,317  
Proprietary technology     1,903,000       (539,183 )     1,363,817       1,903,000       (444,033 )     1,458,967  
Non-compete agreement     3,257,000       (1,538,027 )     1,718,973       3,257,000       (1,266,611 )     1,990,389  
Customer relationships     9,824,000       (916,703 )     8,907,297       9,824,000       (754,988 )     9,069,012  
Favorable lease intangible     218,000       (61,767 )     156,233       218,000       (50,867 )     167,133  
Total acquired intangibles     15,765,000       (3,135,438 )     12,629,562       15,765,000       (2,582,182 )     13,182,818  
                                                 
Intangibles associated with
the Broadvox Transaction:
                                               
Proprietary technology     3,878,000       (193,900 )     3,684,100       3,878,000       -       3,878,000  
Non-compete agreements     5,471,000       (683,875 )     4,787,125       5,471,000       -       5,471,000  
Customer relationships     12,517,000       (240,712 )     12,276,288       12,517,000       -       12,517,000  
Total acquired intangibles     21,866,000       (1,118,487 )     20,747,513       21,866,000       -       21,866,000  
Total   $ 37,631,000     $ (4,253,925 )   $ 33,377,075     $ 37,631,000     $ (2,582,182 )   $ 35,048,818  

 

Amortization expense was $1.7 million and $0.6 million for the three months ended March 31, 2014 and 2013, respectively. Estimated future aggregate amortization expense is as follows for the periods indicated:

 

Remainder of     2014     $ 5,014,822  
Year ending December 31:     2015       6,505,484  
      2016       2,865,262  
      2017       2,794,562  
      2018       2,441,062