Quarterly report pursuant to Section 13 or 15(d)

NOTE 5 - INTANGIBLE ASSETS (Tables)

v3.7.0.1
NOTE 5 - INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets [Table Text Block]
The components of intangible assets are as follows:

 
 
June 30, 2017
   
December 31, 2016
   
Estimated Useful Lives
 
Proprietary developed software
 
$
972,447
   
$
677,829
   
5 - 7
 
Intellectual property, customer list, and acquired contracts
   
3,069,551
     
3,069,551
   
5 - 15
 
Total intangible assets
 
$
4,041,998
   
$
3,747,380
       
Less: accumulated amortization
   
(1,519,155
)
   
(1,316,269
)
     
 
 
$
2,522,843
   
$
2,431,111
       
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
The Company expects future amortization expense to be the following:

 
 
Amortization
 
Balance of 2017
 
$
153,970
 
2018
   
343,621
 
2019
   
343,621
 
2020
   
325,630
 
2021
   
289,080
 
Thereafter
   
1,066,921
 
 
       
Total
 
$
2,522,843