Annual report pursuant to Section 13 and 15(d)

NOTE 7: - GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)

v3.6.0.2
NOTE 7: - GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)
12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
A summary of the goodwill by business segment is as follows:

 
 
December 31,
2015
   
Additions
   
Adjustments
(currency)
   
December 31,
2016
 
Training and Simulation Division
 
$
24,435,641
   
$
   
$
   
$
24,435,641
 
Power Systems Division
   
21,027,386
     
     
26,490
     
21,053,876
 
Total
 
$
45,463,027
   
$
   
$
26,490
   
$
45,489,517
 
Schedule of Finite-Lived Intangible Assets [Table Text Block]
Other intangible assets

 
   
 
December 31,
 
 
 
 
2016
   
2015
 
Original Useful life
 
Cost
   
Net book value
   
Cost
   
Net book value
 
Technology
4 - 8 years
 
$
9,988,000
   
$
1,617,000
   
$
9,988,000
   
$
2,377,250
 
Capitalized software costs
1 - 3 years
   
4,974,105
     
542,220
     
4,609,946
     
630,230
 
Trademarks
  10 years
   
28,000
     
2,800
     
28,000
     
5,600
 
Backlog/customer relationship
1 - 10 years
   
2,844,000
     
8,826
     
2,844,000
     
38,650
 
Covenant not to compete
  6 years
   
400,000
     
172,000
     
400,000
     
304,000
 
Customer list
2 - 10 years
   
14,173,645
     
3,681,500
     
14,173,645
     
5,180,000
 
 
 
   
32,407,750
   
$
6,024,346
     
32,043,591
   
$
8,535,730
 
Less - accumulated amortization
 
   
(26,383,404
)
           
(23,507,861
)
       
Amortized cost
 
   
6,024,346
             
8,535,730
         
Trademarks (indefinite lives)
 
   
799,000
             
799,000
         
Net book value
 
 
$
6,823,346
           
$
9,334,730
         
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
Estimated amortization expenses, using both straight line and accelerated amortization methods, for the years shown is as follows:

Year ending December 31,
 
2017
 
$
2,210,624
 
2018
   
1,415,221
 
2019
   
885,000
 
2020
   
574,500
 
2021
   
291,500
 
Thereafter
   
647,501
 
Total
 
$
6,024,346