7.	Intangible Assets

The Company’s intangible assets are comprised of purchased intangibles consisting of customer relationships, channel relationships, telecommunications software, trade names and trademarks and non-compete agreements. The Company’s intangible assets also include internally developed software used in the sales and delivery of its MMS offering. The following table summarizes purchased and internally developed intangible assets subject to amortization as follows:

	DECEMBER 31, 2014
							Weighted
							Average
	Gross Carrying		Accumulated		Net Book		Amortization
	Amount		Amortization		Value		Period

Customer Relationships	$	2,890,000	$	(1,652,500)	$	1,237,500	5.5
Channel Relationships		3,168,080		(440,804)		2,727,276	13.5
Telecommunications Software		3,113,936		(1,528,374)		1,585,562	2.7
Cybersecurity Software		271,219		(134,377)		136,842	3.0
Trade Name and Trademarks		515,472		(209,660)		305,812	9.0
Non-Compete Agreements		780,000		(780,000)		-	5.0

	$	10,738,707	$	(4,745,715)	$	5,992,992

	DECEMBER 31, 2013
							Weighted
							Average
	Gross Carrying		Accumulated		Net Book		Amortization
	Amount		Amortization		Value		Period

Customer Relationships	$	2,890,000	$	(1,405,000)	$	1,485,000	6.0
Channel Relationships		540,000		(216,000)		324,000	4.0
Telecommunications Software		2,450,000		(1,089,667)		1,360,333	4.0
Cybersecurity Software		669,171		(530,486)		138,685	2.0
Trade Name and Trademarks		225,000		(179,750)		45,250	1.0
Non-Compete Agreements		780,000		(519,997)		260,003	2.0

	$	7,554,171	$	(3,940,900)	$	3,613,271

Purchased Intangibles

For the year ended December 31, 2014, the Company completed the acquisition of SCL and recognized intangible assets totaling approximately $3,582,500. For the year ended December 31, 2013, the Company did not recognize any acquisition related intangible assets. During the year ended December 31, 2012, the Company completed its determination of the fair value of intangibles acquired in connection with a business combination, increased the value of identified intangible assets from $4,492,428 to $5,320,000 as of December 31, 2013 and increased the useful lives of acquired intangibles from provisional estimates. For the years ended December 31, 2014, 2013 and 2012, the Company did not dispose of any intangible assets. See Note 3 for additional information about the fair value adjustments recorded to intangible assets in connection with these business combinations.

Internally Developed

For the year ended December 31, 2014, the Company recorded capitalized software costs related to our Cybersecurity software totaling approximately $138,800.

The total weighted average remaining life of purchased and internally developed intangible assets is approximately 6.4 years and 2.3 years, respectively, at December 31, 2014.

The following table summarizes reflects estimated future amortization for purchased intangible assets for fiscal years ending December 31:

2015	$	1,051,921
2016		1,005,558
2017		841,173
2018		515,631
2019		515,631
Thereafter		2,063,078

Total	$	5,992,992

The aggregate amortization expense recorded was approximately $1,341,548, $1,356,000 and $1,392,400 for the years ended December 31, 2014, 2013 and 2012, respectively.