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Intangible Assets (Tables)
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9 Months Ended |
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Sep. 30, 2012
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Roll-forward of goodwill |
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 |
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| Summary of amortizable intangible assets |
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 |
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| Estimated amortization expense for the next five years and thereafter |
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 |
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