INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2014

INTANGIBLE ASSETS [Abstract]

INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

The Company had goodwill in the amount of $28,515 as of March 31, 2014 and December 31, 2013 subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.”

Identifiable intangible assets with finite lives at March 31, 2014 and December 31, 2013 are summarized as follows:

	Amortization Period (in years)		Gross Carrying Amount at 3/31/14		Accumulated Amortization at 3/31/14		Gross Carrying Amount at 12/31/13		Accumulated Amortization at 12/31/13
Customer lists		10	$	37,142	$	25,462	$	37,142	$	24,552
Regulatory registration costs		5-10		1,671		553		1,644		514
Patents & trade secrets		15-17		1,593		870		1,593		849
Trademarks & trade names		17		910		474		910		461
Other		5-10		754		553		754		541
			$	42,070	$	27,912	$	42,043	$	26,917

Amortization of identifiable intangible assets was approximately $995 for the three months ended March 31, 2014. Assuming no change in the gross carrying value of identifiable intangible assets, the estimated amortization expense for the remainder of 2014 is $3,000, approximately $4,000 for 2015, $3,700 for 2016, $1,400 for 2017 and $600 per annum for 2018 through 2019. At March 31, 2014, there were no identifiable intangible assets with indefinite useful lives as defined by ASC 350. Identifiable intangible assets are reflected in “Intangible assets with finite lives, net” in the Company’s condensed consolidated balance sheets. There were no changes to the useful lives of intangible assets subject to amortization during the three months ended March 31, 2014.