Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2013

Intangible assets

Intangible assets as of March 31, 2013 and December 31, 2012 consist of the following:

			March 31, 2013								December 31, 2012
	Gross Value		Currency Translation Adjustment			Accumulated Amortization			Net Book Value		Net Book Value		Useful Life
Developed technology	$	16,700,000	$	(1,785,407	)	$	(3,217,884	)	$	11,696,709	$	12,370,042		15
In-process research & development		5,502,686		(588,296	)		-			4,914,390		4,980,574	Indefinite
Distributor relationships		4,700,000		(502,480	)		(2,758,442	)		1,439,078		1,733,453		5
Patents		1,000,000		(106,910	)		(183,407	)		709,683		749,166		16
Elevess trade name		1,000,000		-			(529,938	)		470,062		501,401		9
Total	$	28,902,686	$	(2,983,093	)	$	(6,689,671	)	$	19,229,922	$	20,334,636

Changes in Carrying Value of Goodwill

Changes in the carrying value of goodwill for the three months ended March 31, 2013 were as follows:

Balance at December 31, 2012	$	9,065,891
Effect of foreign currency adjustments		(273,726	)
Balance at March 31, 2013	$	8,792,165