GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
Sep. 30, 2012
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	6. GOODWILL AND INTANGIBLE ASSETS On July 16, 2012, BPI was notified that Aldi, BPI's primary customer would be terminating its contract with the Company as of the end of October 2012 due to BPI's inability to meet certain pricing, cost and product offering needs. As such, BPI performed an impairment study and concluded that BPI's goodwill and intangible assets were fully impaired. The Company recorded an impairment expense of $7,770,900 and $4,812,496 for BPI's goodwill and intangible assets (customer relationships), respectively, in the third quarter of 2012. Goodwill of $8,111,488 and $15,882,388 at September 30, 2012 and December 31, 2011, respectively, and licenses and permits (an intangible asset) of $3,430,400 at September 30, 2012 and December 31, 2011, have indefinite useful lives and are not being amortized but tested for impairment annually or whenever an event occurs that may indicate a significant decrease in the market value of the assets has taken place. Intangible assets with finite useful lives are amortized on a straight-line basis over the useful lives of the assets. Intangible assets consist of the following at September 30, 2012 and December 31, 2011: Esimated Useful Lives September 30, December 31, (Years) 2012 2011 ------------ ------------ ------------ Intangible assets subject to amortization Customer relationships 5-10 $ 1,327,700 $ 8,976,700 Non-competition agreements 5 5,886,300 5,886,300 ----------- ----------- 7,214,000 14,863,000 Less accumulated amortization 6,926,715 8,550,942 ----------- ----------- Intangible assets subject to amortization, net 287,285 6,312,058 Intangible assets not subject to amortization Licenses and permits 3,430,400 3,430,400 ----------- ----------- Intangible assets, net $ 3,717,685 $ 9,742,458 =========== =========== The above licenses and permits have renewal provisions which are generally one to four years. At September 30, 2012, the weighted-average period to the next renewal was ten months. The costs of renewal are nominal and are expensed when incurred. The Company intends to renew all licenses and permits currently held. Amortization expense related to continuing operations for the nine months ended September 30, 2012 and 2011 was $1,212,277 and $1,427,802, respectively.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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