Quarterly report pursuant to Section 13 or 15(d)

6. Goodwill and Indefinite-Lived Intangible Assets

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6. Goodwill and Indefinite-Lived Intangible Assets
3 Months Ended
Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Indefinite-Lived Intangible Assets

Goodwill

 

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

 

Balance as of January 1, 2014   $ 3,665,199  
Acquired from acquisitions     4,129,248  
Disposed with Hive Out Agreement     (4,129,248 )
Foreign currency translation     (200,042 )
Balance as of December 31, 2014     3,465,157  
Foreign currency translation     (161,923 )
Balance as of March 31, 2015   $ 3,303,234  

 

The goodwill acquired from the Acquisition was disposed of 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, 2014, the date of the Company’s annual impairment review, the fair value of the Company’s indefinite-lived intangible asset balance was $14.61 million. The carrying value of OncoHist™ was $9.30 million and $9.75 million as of March 31, 2015 and December 31, 2014, respectively. No impairment was recorded during the three months ended March 31, 2015 and 2014.