4. Goodwill and Intangible Assets

The carrying amount of goodwill at December 31, 2013, resulted from the valuation resulting from the acquisitions of RMG and Symon and the application of Financial Accounting Standards Board Standard Codification 805, “Business Combinations”. As a result, the basis of the net assets and liabilities of RMG and Symon were adjusted to reflect their fair values and the appropriate amount of goodwill was recorded for the consideration given in excess of the fair values assigned to the net identifiable assets. The carrying value of goodwill at January 31, 2013 relates to the Predecessor Company.

The following table shows the carrying amount of goodwill:

Beginning goodwill consisted of $8,461,359 for RMG and $20,181,039 for Symon. 

The carrying values of the Company’s intangible assets at December 31, 2013, are as follows:

The carrying values of the Predecessor Company’s definite-lived intangible assets at January 31, 2013 are as follows:

Amortization expense for the period April 20, 2013 through December 31, 2013 was $4,368,000. Amortization expense for the Predecessor Company for period February 1 through April 19, 2013 was $9,522. Amortization expense for the Predecessor Company for year ended January 31, 2013 was $583,463.

The Predecessor Company also had $1,900,000 of indefinite-lived assets as of January 31, 2013.

Projected amortization expense for these assets for the five years ending December 31 and thereafter is as follows: