4. INTANGIBLE ASSETS AND ACQUISITION (Tables)

12 Months Ended

Dec. 31, 2014

Intangible Assets And Acquisition Tables

Aggregate purchase price and assets acquired and liabilities assumed

The purchase of MWS included the acquisition of assets of $22,290,706 and liabilities of $2,075,956.  The aggregate purchase price consisted of the following:

Cash	$	11,115,000
Estimated value of common stock issued to sellers		1,978,750
Estimated value of preferred stock issued to sellers		7,121,000
	$	20,214,750

The following table summarizes the estimated fair value of MWS assets acquired and liabilities assumed at the date of acquisition:

Accounts receivable	$	632,322
Prepaid expenses		123,544
Deposits		8,303
Containers		2,710,671
Furniture and equipment		414,450
Trucks		4,243,964
Customer lists		14,007,452
Non-compete agreement		150,000
Accounts payable and accrued expenses		(54,387	)
Notes payable		(143,464	)
Deferred revenue		(1,878,105	)
	$	20,214,750

Intangible Assets

	December 31, 2014
	Remaining			Accumulated		Net Carrying
	Useful Life	Cost		Amortization		Value
C apitalized software	5.0 years	$	434,532	$	-	$	434,532
Customer list	4.5 years		14,007,452		1,867,660		12,139,792
Loan fees	4.5 years		50,613		11,248		39,365
Non compete agreement	4.5 years		150,000		20,000		130,000
Website	2.9 years		13,920		232		13,688
		$	14,656,517	$	1,899,140	$	12,757,377