Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
6 Months Ended
Jun. 30, 2015
Intangible Assets [Abstract]  
Intangible Assets

6. Intangible Assets

Intangible assets, net is as follows:

 

June 30, 2015   Useful Lives
(Years)
    Gross
Carrying
Amount
    Accumulated Amortization      Net Carrying
Amount 
Long-lived intangible assets:                      
Sales Process                        10   $ 3,970,000   $          (303,264 ) $        3,666,736
Paid Member Relationships                          5     890,000                  (135,972 )
            754,028
Member Lists                          5           8,957,000                (1,368,431 )            7,588,569
Developed Technology                          3              978,000                (229,167 )               748,833
Trade Name/Trademarks                          4             480,000                  (89,861 )               390,139
Customer Relationships                          5              280,000                  (32,666 )               247,334
              15,555,000             (2,159,361 )          13,395,639
Indefinite-lived intangible assets:                      
Trade Name                                   90,400
                       
Intangible assets, net                   $      13,486,039

 

Future annual estimated amortization expense is summarized as follows:

 

Years ending December 31,        
2015 (six months)   $        1,434,200  
2016              2,868,400  
2017              2,802,233  
2018              2,563,872  
2019              1,846,697  
Thereafter              1,880,237  
    $      13,395,639