Intangible Assets

6 Months Ended

Jun. 30, 2014

Note 5—Intangible Assets

Intangible assets at June 30, 2014 and December 31, 2013 consisted of the following:

	June 30, 2014		December 31, 2013
Patent costs	$	1,154,523	$	1,154,523
Less — Accumulated amortization		(911,708)		(864,658)
Total	$	242,815	$	289,865

Patent amortization expense was $23,525 and $25,770 for the three months ended June 30, 2104 and 2013, respectively, and $47,050 and $54,633 for the six months ended June 30, 2014 and 2013, respectively.

Patent costs which are amortized on a straight-line basis over a 10-year life, are scheduled to amortize as follows:

Year ending December 31,

2014 (remaining six months)	$	47,050
2015		77,656
2016		61,119
2017		42,229
Thereafter		14,761
	$	242,815