Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2013

Changes in goodwill for the six months ended June 30, 2013, are as follows:


Balance, December 31, 2012	$	18,883,449
Foreign currency translation adjustments		(171,502	)


Balance, June 30, 2013	$	18,711,947

Intangible assets consist of the following:


			December 31, 2012						June 30, 2013
	Estimated Useful Life		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Trademark		1-5 years	$	665,844	$	665,844	$	—	$	665,844	$	665,844	$	—
Customer base		5-7 years		3,789,117		1,447,297		2,341,820		3,789,117		1,674,063		2,115,054
Domain names		5 years		534,257		137,378		396,879		891,076		257,020		634,056
Software		4 years		298,977		298,977		—		298,977		298,977		—
Technology		4-6 years		2,463,402		1,580,896		882,506		2,463,402		1,708,114		755,288
Technology and know-how		3 years		3,256,803		1,576,600		1,680,203		3,176,431		2,067,097		1,109,334
Non-compete agreements		5 years		161,691		8,721		152,970		161,691		21,407		140,284
Internally developed software		3 years		1,281,589		367,943		913,646		1,837,747		596,250		1,241,497


			$	12,451,680	$	6,083,656	$	6,368,024	$	13,284,285	$	7,288,772	$	5,995,513

Future estimated amortization expense for intangible assets is as follows at June 30, 2013:


Amortization Expense (Years Ending December 31)	Amount
2013 (Six months ending December 31)		1,263,479
2014		2,014,454
2015		1,189,926
2016		735,490
2017		480,534
Thereafter		311,630


Total	$	5,995,513