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)
 3 Months Ended
Mar. 31, 2018
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 three months ended March 31, 2018 and the year ended December 31, 2017:

 

    March 31, 2018     December 31, 2017  
Beginning gross balance   $ 12,263,943     $ 12,178,868  
Acquisitions     -       85,075  
Ending gross balance   $ 12,263,943     $ 12,263,943  

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 trademarks acquired and software costs. Intangible assets - net as of March 31, 2018 and December 31, 2017 consist of the following:

 

    March 31, 2018     December 31, 2017  
Contracts and relationships acquired   $ 16,491,300     $ 16,491,300  
Non-compete agreements     1,236,377       1,236,377  
Other intangible assets     1,509,896       1,498,417  
Total intangible assets     19,237,573       19,226,094  
Less: Accumulated amortization     (17,145,695 )     (16,716,550 )
Intangible assets - net   $ 2,091,878     $ 2,509,544  

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of March 31, 2018, future amortization scheduled to be expensed is as follows:

 

Years ending      
December 31      
2018 (nine months)   $ 1,151,451  
2019     842,870  
2020     93,942  
2021     3,615  
Total   $ 2,091,878