Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS (Tables)

v3.5.0.2
INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2016
Schedule of Intellectual Property and Intangible Assets

Intellectual property and intangible assets consisted of the following at:

 

 

 

June 30,

2016

 

 

December 31,

2015

 

Patents

 

$

13,615,967

 

 

$

13,615,967

 

Customer relationships

 

 

3,400,000

 

 

 

3,400,000

 

Trademarks

 

 

2,740,000

 

 

 

2,740,000

 

Non-compete agreements

 

 

660,000

 

 

 

660,000

 

Licensing agreements

 

 

35,000

 

 

 

35,000

 

 

 

 

20,450,967

 

 

 

20,450,967

 

Less: accumulated amortization

 

 

(7,933,956

)

 

 

(7,189,331

)

Intangible assets, net

 

$

12,517,011

 

 

$

13,261,636

 

 

Finite Lived Intangible Assets Useful Lives

Material assets added over the past several years are as follows:

 

Client installation base

 

60 months

Licensing agreements

 

60 months

Patents

 

87 - 132 months

Trademarks

 

144 - 360 months

Client relationships

 

264 months

 

Prime Table Games  
Finite Lived Intangible Assets Useful Lives

In October 2011, we acquired the following intangible assets related to the asset purchase with Prime Table Games LLC and Prime Table Games UK (collectively “Prime Table Games”):

 

 

 

Fair Value

 

Patents

 

$

13,259,000

 

Customer relationships

 

 

3,400,000

 

Trademarks

 

 

2,740,000

 

Goodwill

 

 

1,091,000

 

Non-compete agreement

 

 

660,000

 

Total acquired intangible assets

 

$

21,150,000