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)
 6 Months Ended
Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill

The following is the summary of the changes to the carrying amount of goodwill for the six months ended June 30, 2016 and the year ended December 31, 2015:

 

    June 30, 2016     December 31, 2015  
Beginning gross balance   $ 8,971,994     $ 8,560,336  
Acquisitions     459,000       411,658  
Ending gross balance   $ 9,430,994     $ 8,971,994  

Schedule of Finite-Lived Intangible Assets

Intangible assets - net as of June 30, 2016 and December 31, 2015 consist of following:

 

    June 30, 2016     December 31, 2015  
Contracts and relationships acquired   $ 13,516,546     $ 12,166,546  
Non-compete agreements     1,226,272       1,206,272  
Other intangible assets     577,612       488,082  
Total intangible assets     15,320,430       13,860,900  
Less: Accumulated amortization     (10,659,910 )     (8,481,496 )
Intangible assets - net   $ 4,660,520     $ 5,379,404  

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of June 30, 2016, future amortization expense scheduled to be expensed is as follows:

 

Years ending      
December 31      
2016 (six months)   $ 1,867,664  
2017     2,131,866  
2018     585,685  
2019     75,305  
Total   $ 4,660,520