LONG-LIVED ASSETS

9 Months Ended

Sep. 30, 2016

Longlived Assets [Abstract]

Longlived Assets [Text Block]

NOTE 3.   LONG-LIVED ASSETS

Property and Equipment

Depreciation expense was $11,944 and $5,574, respectively, for the three months ended September 30, 2016 and 2015, and $36,070 and $16,723, respectively, for the nine months ended September 30, 2016 and 2015.  We have not recognized any impairment as of September 30, 2016.

Intangible Assets

Intangible assets consisted of the following as of September 30, 2016:

		Gross		Accumulated Amortization		Net	Estimated Life (in years)
Customer relationship intangible	$	1,000,000	$	151,782	$	848,218	10
Marketing-related intangibles		200,000		60,712		139,288	5
Non-compete agreements		500,000		252,968		247,032	3
Chiefton brand and graphic designs		69,400		35,270		34,130	2
Intangible assets, net	$	1,769,400	$	500,732	$	1,268,668

Amortization expense was $86,044 and $55,452, respectively, for the three months ended September 30, 2016 and 2015, and $256,259 and $113,315, respectively, for the nine months ended September 30, 2016 and 2015.  We have not recognized any impairment as of September 30, 2016.

Goodwill

In connection with our purchase of IPG, we recorded goodwill of $187,000. We have not recognized any impairment as of September 30, 2016.