General form of registration statement for all companies including face-amount certificate companies

Goodwill and Intangible Assets

v2.4.0.6
Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2011
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]
Note 4 – Goodwill and Intangible Assets
 
Goodwill and Intangible assets consisted of the following: 
 
   
Estimated life
in years
   
September 30, 2011
 
         
Gross amount
   
Accumulated Amortization
 
                   
Goodwill
 
Indefinite
   
$
2,201,828
   
 $
-
 
                       
Intangible assets not subject to amortization
                     
Trademarks
 
Indefinite
     
279,268
     
-
 
Intangible assets subject to amortization
                     
Customer list
   
5
     
854,178
     
302,305
 
Non-compete agreements
   
4
     
262,147
     
84,651
 
                         
Total Intangible Assets
           
1,395,593
     
386,956
 
                         
Total Goodwill and Intangible Assets
         
$
3,597,421
   
$
386,956
 
 
Scheduled amortization over the next five years as follows:
 
Twelve month periods ending September 30,
       
2012
   
$
214,356
 
2013
     
214,356
 
2014
     
214,356
 
2015
     
86,301
 
 
Total
 
$
729,369
 
 
Amortization expense for the nine months ended September 30, 2011 and 2010 was $160,767 and $62,521, respectively.