Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill (Tables)

v3.7.0.1
Intangible Assets and Goodwill (Tables)
6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill

The following table summarizes identifiable intangible assets of the Company, which include identifiable intangible assets from the acquisition of IDS Ltd, PowerKey (the industrial vehicle monitoring products division of International Electronics, Inc. acquired by the Company in 2008) and AI as of December 31, 2016 and June 30, 2017:

 

June 30, 2017  

Useful

Lives

(In Years)

   

Gross

Carrying

Amount

   

Accumulated

Amortization

   

Net

Carrying

Amount

 
                         
Amortized:                                
Patents     11     $ 1,489,000     $ (1,015,000 )   $ 474,000  
                                 
Unamortized:                                
Customer list             104,000       -       104,000  
Trademark and Tradename             61,000       -       61,000  
                                 
              165,000       -       165,000  
                                 
Total           $ 1,654,000     $ (1,015,000 )   $ 639,000  

 

December 31, 2016  

Useful

Lives

(In Years)

   

Gross

Carrying

Amount

   

Accumulated

Amortization

   

Net

Carrying

Amount

 
                         
Amortized:                                
Patents     11     $ 1,489,000     $ (948,000 )   $ 541,000  
                                 
Unamortized:                                
Customer list             104,000       -       104,000  
Trademark and Tradename             61,000       -       61,000  
                                 
              165,000       -       165,000  
                                 
Total           $ 1,654,000     $ (948,000 )   $ 706,000  

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization expense for each of the five succeeding fiscal years for these intangible assets is as follows:

 

Year ending December 31:      
       
July - December 2017   $ 69,000  
2018     135,000  
2019     135,000  
2020     135,000