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Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

The Company has recorded goodwill of $18,555,578 as of June 30, 2019. There were no changes in the carrying amount of goodwill during the six month period ended June 30, 2019. There were no indicators of impairment during the month period ended June 30, 2019.

 

The Company has recorded net intangible assets of $2,826,141, consisting of purchased intangibles and internally developed software used to deliver managed service solutions offered by the Company. For the three and six month periods ended June 30, 2019, the Company capitalized internally developed software costs of approximately $67,225 and $125,725, respectively, related to costs associated with our next generation TDI Optimiser™ application. There were no disposals of intangible assets during the three and six month periods ended June 30, 2019. There were no disposals of intangible assets during the three month period ended June 30, 2018. For the six month period ended June 30, 2018, there were disposals of fully amortized intangible assets of approximately $1,930,000.

 

The aggregate amortization expense recorded for the three month periods ended June 30, 2019 and 2018 were approximately $198,800 and $186,800, respectively. The aggregate amortization expense recorded for the six month periods ended June 30, 2019 and 2018 were approximately $397,600 and $486,600, respectively. The total weighted remaining average life of all purchased intangible assets and internally developed software costs was approximately 5.0 years and 1.0 years, respectively, at June 30, 2019.