Intangible Assets

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 4. INTANGIBLE ASSETS

Intangible assets are comprised of the following:

	March 31, 2017			December 31, 2016
Developed technology	$	7,000,000		$	7,000,000
Customer contracts		6,400,000			6,400,000
Trademarks		1,500,000			1,500,000
		14,900,000			14,900,000
Accumulated amortization		(6,932,222	)		(6,320,556	)
	$	7,967,778		$	8,579,444

Amortization expense related to intangible assets was $611,666 and $611,667 for the three months ended March 31, 2017 and 2016, respectively.

Annually, and more often as necessary, we will perform an evaluation of our intangible assets for indications of impairment. If indications exist, we will perform an evaluation of the fair value of the intangible assets and, if necessary, record an impairment charge. As of March 31, 2017, the Company reviewed the net balance of the intangible assets and determined no impairment was needed.