GOODWILL

At September 30, 2014 and December 31, 2013, goodwill totaled $4,922,353 and 4,502,743, respectively. The increase in goodwill during the nine months ended September 30, 2013 is attributable to the acquisition of E-Source (as described in Notes 11 and 12) and allocated to the recovery segment. The excess purchase price over the fair value of the net tangible assets and intangible assets was recorded as goodwill. The total carrying value of goodwill for all periods has been tested and it was determined that no impairment charges were necessary as of September 30, 2014.

The following table contains consideration paid in excess of the net assets of the company's acquired, allocated to the respective business segment is as of September 30, 2014:



	Black Oil	Refining & Marketing	Recovery	Total
Balance as of December 31, 2013	$3,554,515	$—	$948,228	$4,502,743
Acquisitions	—	—	419,610	419,610
Balance as of September 30, 2014	$3,554,515	$—	$1,367,838	$4,922,353