Intangible Assets, Net

6 Months Ended

Jun. 30, 2014

Intangible Assets, Net

Intangible Assets, Net

6. Intangible Assets, Net

Intangible assets at June 30, 2014 (Unaudited) and December 31, 2013 were as follows:

	June 30, 2014							December 31, 2013
								Gross
	Gross Carrying		Accumulative			Intangible		Carrying		Accumulative			Intangible
	Amount		Amortization			Assets, net		Amount		Amortization			Assets, net
Definite lived intangible assets	$	14,228,628	$	(595,323	)	$	13,633,305	$	7,779,000	$	(87,318	)	$	7,691,682
In-process research and development costs (IPR&D)	159,492		—				159,492	—		—			—
Total intangible assets	$	14,388,120	$	(595,323	)	$	13,792,797	$	7,779,000	$	(87,318	)	$	7,691,682

We currently estimate amortization expense over each of the next five years as follows:

	Amortization
For the Twelve Months Ending	Expense
June 30, 2015	$	1,284,744
June 30, 2016	1,284,744
June 30, 2017	1,284,744
June 30, 2018	1,284,744
June 30, 2019	1,284,744
Thereafter	7,209,585