Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets [Abstract]

7.	Goodwill and Intangible Assets

The Company has recorded goodwill of $18,555,578 as of March 31, 2016. There were no changes in the carrying amount of goodwill for the three month period ended March 31, 2016. The Company considered whether there were indicators of impairment during the three month period ended March 31, 2016.

The Company has recorded intangible assets of $4,834,602, consisting of purchased intangibles and internally developed software used in the conduct of business. For the three month periods ended March 31, 2016 and 2015 there were no additions of internally developed (cybersecurity software) intangible assets. There were no disposals of intangible assets for the three month periods ended March 31, 2016 and 2015.

The aggregate amortization expense recorded for the three month periods ended March 31, 2016 and 2015 were approximately $266,900 and $268,300, respectively. The total weighted average life of purchased and internally developed intangible assets is approximately 4.2 years at March 31, 2016.