Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Intangible Assets

Note 3 - Intangible Assets

3 Months Ended

Mar. 31, 2016

Intangible Assets Disclosure [Text Block]

3.	Intangible Assets

The following table summarizes information relating to the Company’s definite-lived intangible assets:

					March 31, 2016							December 31, 2015
	Useful Lives (Years)				Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangibles (amount in thousands)
Patent		8	-	18	$	546	$	(212	)	$	334	$	539	$	(203	)	$	336
Software			3			395		(367	)		28		395		(364	)		31
Customer relationships			12			3,370		(1,747	)		1,623		3,370		(1,671	)		1,699
Permit			10			545		(386	)		159		545		(373	)		172
Total					$	4,856	$	(2,712	)	$	2,144	$	4,849	$	(2,611	)	$	2,238

The intangible assets noted above are amortized on a straight-line basis over their useful lives with the exception of customer relationships which are being amortized using an accelerated method. The Company has only one definite-lived permit that is subject to amortization.

The following table summarizes the expected amortization over the next five years for our definite-lived intangible assets (including the one definite-lived permit):

	Amount
Year	(In thousands)

2016 (remaining)	$	319
2017		373
2018		334
2019		247
2020		221
	$	1,494

Amortization expenses relating to the definite-lived intangible assets as discussed above were $101,000 and $127,000 for the three months ended March 31, 2016 and 2015, respectively.