INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2013

Intangible Assets Tables

Intangible assets

As of December 31, 2013 and 2012, intangible assets related to the ETI Acquisition are summarized as follows:

	Estimated			Accumulated		2013		2012
	Life	Cost		Amortization		Net		Net
Contract related intangible asset:
Cato Research discounted contract	3 years	$	355,000	$	355,000	$	—	$	—
Technology related intangible assets:
Patents for the AzoneTS-based product candidates and formulation	4 years		1,305,000		—		1,305,000		1,305,000
Drug Master Files containing formulation, clinical and safety documentation used by the FDA	4 years		1,500,000		—		1,500,000		1,500,000
In-process pharmaceutical products for 2 indications	4 years		6,820,000		—		6,820,000		6,820,000
Total technology related intangible assets			9,625,000		—		9,625,000		9,625,000
Total, net		$	9,980,000	$	355,000	$	9,625,000	$	9,625,000

Amortization expense

Estimated amortization expense for each of the next five years is as follows:

	Estimated Amortization Expense
2014	$	—
2015		—
2016		2,406,000
2017		2,406,000
2018		2,406,000