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Intangible Assets and Goodwill
9 Months Ended
Sep. 30, 2012
Intangible Assets and Goodwill

NOTE 5: Intangible Assets and Goodwill

During the third quarter of 2012, the Company changed the domicile of the subsidiary that owns its international intellectual property. At that time, this entity changed its functional currency from the Euro to the U.S. Dollar. As of September 30, 2012, all goodwill is based in U.S. Dollars. However, the change in the carrying value of goodwill noted on the Consolidated Balance Sheets during the nine-month period ended September 30, 2012 of $340,000 is wholly attributable to fluctuations in foreign currency exchange rates, recorded prior to the change of domicile.

The Company evaluates the possible impairment of goodwill and other intangible assets whenever events or circumstances indicate that the carrying value of these assets may not be recoverable. No triggering event occurred in the nine-month period ended September 30, 2012 that would indicate a potential impairment of goodwill or other intangible assets. However, the Company continues to monitor a variety of factors that could result in an impairment of goodwill or other intangible assets in a future period.