Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 30, 2012

Intangible Assets

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

			September 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	$	(1,618,177	)	$	(2,694,831	)	$	12,386,992	$	13,228,351	15
In-process research & development		6,698,000		(793,422	)		-			5,904,578		5,955,066	Indefinite
Distributor relationships		4,700,000		(484,422	)		(2,318,568	)		1,897,010		2,547,842	5
Patents		1,000,000		(103,070	)		(154,160	)		742,770		790,555	16
Elevess trade name		1,000,000		-			(467,261	)		532,739		626,749	9
Total	$	30,098,000	$	(2,999,091	)	$	(5,634,820	)	$	21,464,089	$	23,148,563

Changes in Carrying Value of Goodwill

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

	For the three months ended:		For the nine months ended:
	September 30,		September 30,
	2012		2012
Balance, beginning	$	8,627,518	$	8,883,407
Effect of foreign currency adjustments		191,402		(64,487	)
Balance, ending	$	8,818,920	$	8,818,920