Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2014

Intangible Assets

Schedule of Intangible assets

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of September 30, 2014 are as follows:

	Weighted Average	Gross Carrying		Accumulated
	Amortization Period	Amount		Amortization			Total
Acquired technology	8 years	$	17,696,835	$	(15,971,989	)	$	1,724,846
Customer relationships	8 years	1,260,000		(940,083		)	319,917
Trademark	5 years	60,000		(6,000		)	54,000
		$	19,016,835	$	(16,918,072	)	$	2,098,763

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2013 are as follows:

	Weighted Average	Gross Carrying		Accumulated
	Amortization Period	Amount		Amortization			Total
Acquired technology	8 years	$	17,036,835	$	(14,301,907	)	$	2,734,928
Customer relationships	8 years	1,000,000		(833,333		)	166,667
		$	18,036,835	$	(15,135,240	)	$	2,901,595