CareCloud, Inc. Annual report pursuant to Section 13 and 15(d)

GOODWILL AND INTANGIBLE ASSETS - NET (Tables)

12 Months Ended

Dec. 31, 2015

The following is the summary of the changes to the carrying amount of goodwill for the years ended December 31, 2015 and December 31, 2014.

Below is a summary of intangible asset activity for the years ended December 31, 2015 and 2014:

					Other
	Customer		Non-Compete		Intangible
	Relationships		Agreements		Assets		Total
COST
Balance, January 1, 2015	$	11,164,988	$	1,206,272	$	309,486	$	12,680,746
Purchase of other intangible assets		-		-		97,596		97,596
Acquisition of customer relationships		494,358		-		-		494,358
Allocation from 2015 Acquisitions		507,200		-		81,000		588,200
Balance, December 31, 2015	$	12,166,546	$	1,206,272	$	488,082	$	13,860,900
Useful lives		3 Years		3 Years		3 Years
ACCUMULATED AMORTIZATION
Balance, January 1, 2015	$	3,754,244	$	313,647	$	235,018	$	4,302,909
Amortization expense		3,597,288		522,124		59,175		4,178,587
Balance, December 31, 2015		7,351,532		835,771		294,193		8,481,496
Net book value	$	4,815,014	$	370,501	$	193,889	$	5,379,404

COST
Balance, January 1, 2014	$	2,939,988	$	281,272	$	85,588	$	3,306,848
Acquired backlog from 2014 Acquisitions		-		-		148,408		148,408
Purchase of other intangible assets		-		-		75,490		75,490
Allocation from 2014 Acquisitions		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

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