Intangible Assets (Notes)
 9 Months Ended
Sep. 30, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
Intangible Assets

The following is a roll-forward of goodwill from December 31, 2011 to September 30, 2012:

Balance as of December 31, 2011
$
41,476,212

  Goodwill acquired related to the purchase of Advantage
(192,161
)
  Goodwill acquired related to the purchase of TTS
40,392

  Goodwill acquired related to the purchase of Purple Plum
1,263,147

  Goodwill acquired related to the purchase of Shipper Direct
1,800,612

Balance as of September 30, 2012
$
44,388,202



The following is a summary of amortizable intangible assets as of September 30, 2012 and December 31, 2011:

 
September 30, 2012
 
December 31, 2011
 
Weighted-
Average Life
Customer relationships
$
13,704,923

 
$
12,516,322

 
6.5 years
Noncompete agreements
139,000

 
139,000

 
2.9 years
Trade names
190,000

 
190,000

 
3.0 years
 
14,033,923

 
12,845,322

 
6.5 years
Less accumulated amortization
(8,051,186
)
 
(6,563,870
)
 
 
Intangible assets, net
$
5,982,737

 
$
6,281,452

 
 


Amortization expense related to intangible assets was $1,487,316 and $1,815,410 for the nine months ended September 30, 2012 and 2011, respectively.

The estimated amortization expense for the next five years and thereafter is as follows:

Remainder of 2012
$
482,556

2013
1,609,150

2014
1,292,807

2015
1,070,811

2016
745,095

Thereafter
782,318

 
$
5,982,737