INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Components of intangible assets (all subject to amortization) consist of the following items:



		December 31, 2014						December 31, 2013
	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relations	5-8	$	1,011,000	$	205,742	$	805,258	$	659,000	$	95,625	$	563,375
Vendor relations	10	6,007,973		943,628		5,064,345		4,131,973		514,797		3,617,176
H&H Oil Trademark/Trade name	6-16	1,219,000		129,248		1,089,752		856,000		63,922		792,078
TCEP Technology/Patent	15	13,287,000		1,751,645		11,535,355		11,000,000		916,667		10,083,333
Non-compete agreements	3	139,000		120,750		18,250		73,000		30,417		42,583
		$	21,663,973	$	3,151,013	$	18,512,960	$	16,719,973	$	1,621,428	$	15,098,545

In the current year, the Company classified deferred financing costs as a separate line item on the balance sheet, which was previously included in intangible assets. For comparative purposes, amounts in prior years have been reclassified to conform to current year presentations (see Note 9).

Intangible assets are amortized on a straight-line basis. We continually evaluate the amortization period and carrying basis of intangible assets to determine whether subsequent events and circumstances warrant a revised estimated useful life or reduction in value.

Total amortization expense of intangibles was $1,868,865, $1,302,732, and $320,276 for the years ended December 31, 2014, 2013, and 2012, respectively.

Estimated future amortization expense is as follows:



2015	$	1,753,658
2016	1,735,408
2017	1,718,257
2018	1,668,808
2019	1,333,635
Thereafter	10,303,194
	$	18,512,960