Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets-Net (Tables)

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Goodwill and Intangible Assets-Net (Tables)
 9 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill

Goodwill consists of the excess of the purchase price over the fair value of identifiable net assets of businesses acquired. The following is the summary of the changes to the carrying amount of goodwill for the nine months ended September 30, 2017 and the year ended December 31, 2016:

 

    September 30, 2017     December 31, 2016  
Beginning gross balance   $ 12,178,868     $ 8,971,994  
Acquisitions     85,075       3,206,874  
Ending gross balance   $ 12,263,943     $ 12,178,868  

Schedule of Finite-Lived Intangible Assets

Intangible assets include customer contracts and relationships and covenants not-to-compete acquired in connection with acquisitions, as well as software purchase and development costs and trademarks acquired. Intangible assets - net as of September 30, 2017 and December 31, 2016 consist of the following:

 

    September 30, 2017     December 31, 2016  
Contracts and relationships acquired   $ 16,491,300     $ 16,371,375  
Non-compete agreements     1,236,377       1,236,377  
Other intangible assets     1,482,864       1,289,339  
Total intangible assets     19,210,541       18,897,091  
Less: Accumulated amortization     (16,213,330 )     (13,063,385 )
Intangible assets - net   $ 2,997,211     $ 5,833,706  

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of September 30, 2017, future amortization expense scheduled to be expensed is as follows:

 

Years ending        
December 31        
2017 (three months)     $ 493,264  
2018       1,601,110  
2019       827,033  
2020       75,804  
Total     $ 2,997,211