8. INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2016

Disclosure Text Block [Abstract]

Intangible Assets Disclosure [Text Block]

8.   INTANGIBLE ASSETS

The Company acquired certain intangible assets pursuant to the acquisition of Artisan and OFB, and the acquisition of certain assets of The Haley Group, LLC. The following is the net book value of these assets:

	June 30, 2016
				Accumulated
	Gross			Amortization				Net
Trade Name		$	217,000		$	-			$	217,000
Non-Compete Agreement			244,000			(244,000	)			-
Customer Relationships			1,130,994			(690,176	)			440,818
Goodwill			151,000			-				151,000
Total		$	1,742,994		$	(934,176	)		$	808,818

	December 31, 2015
				Accumulated
	Gross			Amortization				Net
Trade Name		$	217,000		$	-			$	217,000
Non-Compete Agreement			244,000			(213,500	)			30,500
Customer Relationships			1,130,994			(589,042	)			541,952
Goodwill			151,000			-				151,000
Total		$	1,742,994		$	(802,542	)		$	940,452

Amortization expense charged to continuing operations for the three months ended June 30, 2016 and 2015 was $65,817 and  $75,770, respectively.  Amortization expense charged to continuing operations for the six months ended June 30, 2016 and 2015 was $131,634 and $151,557, respectively.

The trade names are not considered finite-lived assets, and are not being amortized.  The non-compete agreements are being amortized over a period of 48 months.  The customer relationships acquired in the Artisan, Haley, and OFB transactions are being amortized over periods of 60, 36, and 60  months, respectively.

As detailed in ASC 350, the Company tests for goodwill impairment in the fourth quarter of each year and whenever events or changes in circumstances indicate that the carrying amount of the asset exceeds its fair value and may not be recoverable.  As detailed in ASC 350-20-35-3A, in performing its testing for goodwill impairment, management has completed a qualitative analysis to determine whether it was more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. To complete this review, management followed the steps in ASC 350-20-35-3C to evaluate the fair value of goodwill and considered all known events and circumstances that might trigger an impairment of goodwill. The analysis completed in 2015 determined that there was no impairment to goodwill assets related to the Artisan and Haley transactions.