Quarterly report pursuant to Section 13 or 15(d)

4. INTANGIBLE ASSETS (Tables)

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4. INTANGIBLE ASSETS (Tables)
3 Months Ended
Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets
Description   Original Fair Market Value     Accumulated Amortization     Net  
Vendor relationships   $ 1,170,000     $ 273,000     $ 897,000  
Trade name     230,000       53,667       176,333  
Noncompete agreement     2,710,000       632,333       2,077,667  
    $ 4,110,000     $ 959,000     $ 3,151,000  

 

Intangible assets consisted of the following at December 31, 2013:

 

Description   Original Fair Market Value     Accumulated Amortization     Net  
Vendor relationships   $ 1,170,000     $ 214,500     $ 955,500  
Trade name     230,000       42,167       187,833  
Noncompete agreement     2,710,000       496,833       2,213,167  
    $ 4,110,000     $ 753,500     $ 3,356,500