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Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

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

 

The Company has recorded net intangible assets of $2,640,164, consisting of purchased intangibles and internally developed software used to deliver managed service solutions offered by the Company. For the three and nine month periods ended September 30, 2019, the Company capitalized internally developed software costs of approximately $21,075 and $146,800, respectively, related to costs associated with our next generation TDI Optimiser™ application. There were no disposals of intangible assets during the three and nine month periods ended September 30, 2019. There were no disposals of intangible assets during the three month period ended September 30, 2018. For the nine month period ended September 30, 2018, there were disposals of fully amortized intangible assets of approximately $2,374,700.

 

The aggregate amortization expense recorded for the three month periods ended September 30, 2019 and 2018 were approximately $198,800 and $213,800, respectively. The aggregate amortization expense recorded for the nine month periods ended September 30, 2019 and 2018 were approximately $596,500 and $700,400, respectively. The total weighted remaining average life of all purchased intangible assets and internally developed software costs was approximately 4.8 years and 1.0 year, respectively, at September 30, 2019.