CareCloud, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS - NET

INTANGIBLE ASSETS - NET

3 Months Ended

Mar. 31, 2015

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets Disclosure [Text Block]

4.	INTANGIBLE ASSETS NET

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

Amortization expense was $1,066,745 and $218,934 for the three months ended March 31, 2015 and March 31, 2014, respectively. The weighted-average amortization period is three years.

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

Years Ending
December 31
2015 (nine months)	$	2,655,911
2016		3,153,443
2017		1,506,196
2018		349
Total	$	7,315,899