CareCloud, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS - NET

INTANGIBLE ASSETS - NET

6 Months Ended

Jun. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

4.	Intangible Assets NET

Intangible assets-net as of June 30, 2014 and December 31, 2013 consist of the following:

	June 30,		December 31,
	2014		2013
Contracts and relationships acquired	$	2,939,988	$	2,939,988
Non-compete agreements		281,272		281,272
Software purchased		96,069		85,588
Total intangible assets		3,317,329		3,306,848
Less: Accumulated amortization		(2,210,292)		(1,772,068)
Intangible assets - net	$	1,107,037	$	1,534,780

Amortization expense was $434,638 and $242,175 for the six months ended June 30, 2014 and 2013, respectively, and $215,704 and $121,142 for the three months ended June 30, 2014 and 2013, respectively. The weighted-average amortization period is three years.

As of June 30, 2014, future amortization expense scheduled to be expensed as follows:

Years Ending
December 31
2014 (six months)	$	421,490
2015		521,506
2016		163,658
2017		383
Total	$	1,107,037