Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.5.0.2
Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Schedule of Intangible Assets
Intangible assets, net is as follows:

June 30, 2016
 
Useful Lives
(Years)
   
Gross
Carrying
Amount
   
Accumulated
Amortization
   
Net Carrying
Amount
 
Long-lived intangible assets:
                       
Sales Process
 
10
   
$
3,970,000
   
$
(700,264
)
 
$
3,269,736
 
Paid Member Relationships
 
5
     
890,000
     
(313,972
)
   
576,028
 
Member Lists
 
5
     
8,957,000
     
(3,159,831
)
   
5,797,169
 
Developed Technology
 
3
     
978,000
     
(555,166
)
   
422,834
 
Trade Name/Trademarks
 
4
     
480,000
     
(209,861
)
   
270,139
 
Customer Relationships
 
5
     
280,000
     
(88,667
)
   
191,333
 
 
         
15,555,000
     
(5,027,761
)
   
10,527,239
 
Indefinite-lived intangible assets:
                             
Trade Name
                         
90,400
 
 
                             
Intangible assets, net
                       
$
10,617,639
 
 
December 31, 2015
 
Useful Lives
(Years)
   
Gross
Carrying
Amount
   
Accumulated
Amortization
   
Net Carrying
Amount
 
Long-lived intangible assets:
                       
Sales Process
 
10
   
$
3,970,000
   
$
(501,764
)
 
$
3,468,236
 
Paid Member Relationships
 
5
     
890,000
     
(224,972
)
   
665,028
 
Member Lists
 
5
     
8,957,000
     
(2,264,131
)
   
6,692,869
 
Developed Technology
 
3
     
978,000
     
(392,167
)
   
585,833
 
Trade Name/Trademarks
 
4
     
480,000
     
(149,860
)
   
330,140
 
Customer Relationships
 
5
     
280,000
     
(60,667
)
   
219,333
 
 
         
15,555,000
     
(3,593,561
)
   
11,961,439
 
Indefinite-lived intangible assets:
                             
Trade Name
                         
90,400
 
 
                             
Intangible assets, net
                       
$
12,051,839
 
Schedule of Future Annual Estimated Amortization Expense
Future annual estimated amortization expense is summarized as follows:

Years ending December 31,
     
2016 (six months)
 
$
1,434,200
 
2017
   
2,802,233
 
2018
   
2,563,872
 
2019
   
1,846,697
 
2020
   
397,000
 
2021
   
397,000
 
Thereafter
   
1,086,237
 
 
 
$
10,527,239