Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2012

Intangible Assets

Intangible assets as of June 30, 2012 and December 31, 2011 consist of the following:

			June 30, 2012								December 31, 2011
	Gross Value		Currency Translation Adjustment			Accumulated Amortization			Net Book Value		Net Book Value		Useful Life
Developed technology	$	16,700,000	$	(1,974,317	)	$	(2,462,946	)	$	12,262,737	$	13,228,351		15
In-process research & development		6,698,000		(820,741	)		-			5,877,259		5,955,066	Indefinite
Distributor relationships		4,700,000		(513,855	)		(2,124,103	)		2,062,042		2,547,842		5
Patents		1,000,000		(118,438	)		(141,202	)		740,360		790,555		16
Elevess trade name		1,000,000		-			(435,924	)		564,076		626,749		9
Total	$	30,098,000	$	(3,427,351	)	$	(5,164,175	)	$	21,506,474	$	23,148,563

Changes in Carrying Value of Goodwill

Changes in the carrying value of goodwill for the three and six months ended June 30, 2012 were as follows:

	For the three months ended:			For the six months ended:
	June 30,			June 30,
	2012			2012
Balance, beginning	$	9,150,273		$	8,883,407
Effect of foreign currency adjustments		(522,755	)		(255,889	)
Balance, ending	$	8,627,518		$	8,627,518