CareCloud, Inc. General form of registration statement for all companies including face-amount certificate companies

INTANGIBLE ASSETS - NET (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Intangible assets-net as of March 31, 2015 and December 31, 2014 consist of following:

	March 31,		December 31,
	2015		2014
Contracts and relationships acquired	$	11,164,988	$	11,164,988
Non-compete agreements		1,206,272		1,206,272
Other Intangible assets		316,134		309,486
Total intangible assets		12,687,394		12,680,746
Less: Accumulated amortization		(5,371,495)		(4,302,909)

Intangible assets - net	$	7,315,899	$	8,377,837

Below is a summary of intangible asset activity for the years ended December 31, 2014 and 2013:

	Customer		Non-Compete		Other Intangible
	Relationships		Agreements		Assets		Total
COST
Balance, January 1, 2014	$	2,939,988	$	281,272	$	85,588	$	3,306,848
Acquired backlog from acquisitions		-		-		148,408		148,408
Purchase of other intangible assets		-		-		75,490		75,490
Acquisition of Acquired Businesses		8,225,000		925,000		-		9,150,000
Balance, December 31, 2014	$	11,164,988	$	1,206,272	$	309,486	$	12,680,746
Useful lives		3 Years		3 Years		3 Years
ACCUMULATED AMORTIZATION
Balance, January 1, 2014	$	1,626,776	$	65,723	$	79,569	$	1,772,068
Amortization expense		2,127,468		247,924		155,449		2,530,841
Balance, December 31, 2014		3,754,244		313,647		235,018		4,302,909
Net book value	$	7,410,744	$	892,625	$	74,468	$	8,377,837

COST
Balance, January 1, 2013	$	2,035,988	$	29,272	$	76,693	$	2,141,953
Purchase of other intangible assets		-		-		8,895		8,895
Acquisition of Metro Medical		904,000		252,000		-		1,156,000
Balance, December 31, 2013	$	2,939,988	$	281,272	$	85,588	$	3,306,848
Useful lives		3 Years		3 Years		3 Years
ACCUMULATED AMORTIZATION
Balance, January 1, 2013	$	979,731	$	6,966	$	70,271	$	1,056,968
Amortization expense		647,045		58,757		9,298		715,100
Balance, December 31, 2013		1,626,776		65,723		79,569		1,772,068
Net book value	$	1,313,212	$	215,549	$	6,019	$	1,534,780

As of March 31, 2015, future amortization expense scheduled to be expensed is as follows:

As of December 31, 2014, future amortization expense scheduled to be expensed is as follows: