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Goodwill and intangible assets (Tables)
6 Months Ended
Jun. 30, 2013
Goodwill and intangible assets  
Schedule of changes in carrying amount of goodwill

 

 

Goodwill, gross, as of December 31, 2012

 

$

347,599

 

Impact of change in Euro exchange rate

 

(5,391

)

Accumulated impairment losses as of June 30, 2013

 

 

Goodwill, net, as of June 30, 2013

 

$

342,208

 

Schedule of the gross book value, accumulated amortization and amortization periods of intangible assets

 

 

 

 

As of June 30, 2013

 

As of December 31, 2012

 

Amortization

 

 

 

Gross book

 

Accumulated

 

Net book

 

Gross book

 

Accumulated

 

Net book

 

period

 

 

 

value

 

amortization

 

value

 

value

 

amortization

 

value

 

(years)

 

Trademarks and patents

 

$

994,977

 

$

(290,035

)

$

704,942

 

$

917,456

 

$

(258,325

)

$

659,131

 

15

 

Technology

 

2,849,847

 

(629,724

)

2,220,123

 

2,894,742

 

(351,018

)

2,543,724

 

5

 

Customer contracts

 

867,354

 

(867,354

)

 

867,354

 

(780,619

)

86,735

 

5

 

Intangible assets, net

 

$

4,712,178

 

$

(1,787,113

)

$

2,925,065

 

$

4,679,552

 

$

(1,389,962

)

$

3,289,590

 

 

 

Schedule of amortization expense related to intangible assets

 

 

 

 

Three months ended
June 30,

 

Six months ended
June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

Amortization expense

 

$

199,882

 

$

117,044

 

$

404,175

 

$

174,021