Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS - NET (Tables)

v3.4.0.3
GOODWILL AND INTANGIBLE ASSETS - NET (Tables)
 3 Months Ended
Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill [Table Text Block]
The following is the summary of the changes to the carrying amount of goodwill for the three months ended March 31, 2016 and the year ended December 31, 2015.
 
 
 
March 31,
 
December 31,
 
 
 
2016
 
2015
 
Beginning gross balance
 
$
8,971,994
 
$
8,560,336
 
Acquisitions
 
 
544,000
 
 
411,658
 
Ending gross balance
 
$
9,515,994
 
$
8,971,994
 
Schedule of Finite-Lived Intangible Assets [Table Text Block]
Intangible assets-net as of March 31, 2016 and December 31, 2015 consist of following:
 
 
 
March 31,
 
December 31,
 
 
 
2016
 
2015
 
Contracts and relationships acquired
 
$
13,266,546
 
$
12,166,546
 
Non-compete agreements
 
 
1,226,272
 
 
1,206,272
 
Other intangible assets
 
 
522,918
 
 
488,082
 
Total intangible assets
 
 
15,015,736
 
 
13,860,900
 
Less: Accumulated amortization
 
 
(9,575,701)
 
 
(8,481,496)
 
 
 
 
 
 
 
 
 
Intangible assets - net
 
$
5,440,035
 
$
5,379,404
 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
As of March 31, 2016, future amortization expense scheduled to be expensed is as follows:
 
Years ending
 
 
 
December 31
 
 
 
2016 (nine months)
 
$
2,850,098
 
2017
 
 
2,040,207
 
2018
 
 
514,220
 
2019
 
 
35,510
 
Total
 
$
5,440,035