Intangible Assets

9 Months Ended

Sep. 30, 2014

Note 5—Intangible Assets

Intangible assets consisted of the following:

	September 30, 2014		December 31, 2013

Patent costs	$	1,154,523	$	1,154,523
Less — Accumulated amortization		(935,233)		(864,658)
Total	$	219,290	$	289,865

Patent amortization expense was $23,525 and $27,316 for the three months ended September 30, 2014 and 2013, respectively, and $70,575 and $81,950 for the nine months ended September 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 three months)	$	23,525
2015		77,656
2016		61,119
2017		42,229
Thereafter		14,761
	$	219,290