Note 4 - Intangibles

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note

4.

Intangibles

Intangibles consist of the customer list and contracts of

$396,824

and goodwill of

$9,759

acquired in the purchase of the assets of Akimbo Financial, Inc. in

2014.

 The fair value of the customer list and contracts was calculated using the net present value of the projected gross profit to be generated by the customer list over the next

36

months beginning in

January

2015

and is being amortized over

3

years at

$

132,275

annually.

Goodwill was determined based on the purchase price paid over the assets acquired and has an indefinite life, which is tested for impairment annually.