Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Indefinite-Lived Intangible Assets

Goodwill and Indefinite-Lived Intangible Assets
9 Months Ended
Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Indefinite-Lived Intangible Assets

Goodwill and Indefinite-Lived Intangible Assets


A reconciliation of the change in the carrying value of goodwill is as follows:



    Balance as of January 1, 2013

   $ 3,592,073    

    Foreign currency translation


    Balance as of December 31, 2013


    Acquired from acquisitions


    Disposed with Hive Out Agreement


    Foreign currency translation


    Balance as of September 30, 2014

   $     3,597,408    

The goodwill acquired from the Acquisition was disposed in connection with the Hive Out Agreement. See Footnote 3, Acquisitions, for further discussion on the Acquisition and the Hive Out Agreement.

Indefinite-Lived Intangible Assets

The Company’s acquired indefinite-lived intangible asset, OncoHist™, is IPR&D relating to the Company’s business combination with SymbioTec. As of October 1, 2013, the date of the Company’s annual impairment review, the fair value of the Company’s indefinite-lived intangible asset balance was $10,559,820. The carrying value of OncoHist™ was $10,127,159 and $10,318,001 as of September 30, 2014 and December 31, 2013, respectively. No impairment was recorded during the three months or nine months ended September 30, 2014 and 2013. The changes in the carrying value reflected herein are solely comprised of the effects of changes in foreign currency.