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5. Intangible Assets
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
5. Intangible Assets

Note 5 – Intangible Assets

 

Amortization expense for the years ended December 31, 2015 and 2014 was $0 and $179,431, respectively. We recorded impairment expense of $972,895 during the year ended December 31, 2014.

 

For the year ended December 31, 2014, we determined that the carrying value of our intangible assets was greater than their estimated fair value and recorded an impairment loss of $972,895. Fair value was estimated using discounted, estimated future cash flows, which were projected based on recent, actual results. The estimated future cash flows did not include the benefit of additional capital or acquisitions, as there can be no assurance that they will occur.