Annual report pursuant to Section 13 and 15(d)

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

v2.4.0.6
NOTE 7: - GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)
12 Months Ended
Dec. 31, 2012
Schedule of Goodwill [Table Text Block]
A summary of the goodwill by business segment is as follows:

   
December 31,
2011
   
Additions
   
Adjustments (currency)
   
December 31,
2012
 
Training and Simulation Division
  $ 24,435,641     $     $     $ 24,435,641  
Battery and Power Systems Division
    5,985,557             141,100       6,126,657  
Total
  $ 30,421,198     $     $ 141,100     $ 30,562,298  
Schedule of Finite-Lived Intangible Assets [Table Text Block]
A summary of Other Intangible Assets is as follows:

     
December 31,
 
     
2012
   
2011
 
 
Useful life
 
Cost
   
Net book value
   
Cost
   
Net book value
 
Technology
4-8 years
  $ 6,788,000     $ 189,429     $ 6,788,000     $ 284,143  
Capitalized software costs
1-3 years
    3,690,416       491,433       3,355,716       616,819  
Trademarks
10 years
    28,000       14,000       28,000       16,800  
Backlog/customer relationship
1-10 years
    744,000       31,000       744,000       37,200  
Customer list
2-10 years
    6,773,645       621,740       6,773,645       1,243,480  
        18,024,061     $ 1,347,602       17,689,361     $ 2,198,442  
Exchange rate differences
      91,671               155,663          
Less - accumulated amortization
      (16,676,459 )             (15,490,920 )        
Amortized cost
      1,439,273               2,354,104          
Trademarks (indefinite lives)
      799,000               799,000          
Net book value
    $ 2,238,273             $ 3,153,104          
Schedule of Expected Amortization Expense [Table Text Block]
Estimated amortization expenses for the years shown is as follows:

Year ending December 31,
 
2013
  $ 1,089,442  
2014
    231,160  
2015
    27,000  
2016
     
Total
  $ 1,347,602