Intangible Assets

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

NOTE - 6 Intangible Assets

Intangible assets consist of costs incurred to establish the TruXmart Tri-Fold and Smart Fold patent technology, as well as the Company's website. The patent was issued August 26, 2014. The patent will be amortized on a straight-line basis over its useful life of 25 years. The Company's website has an indefinite useful life and has not been amortized.

	December 31, 2016
	Cost		Accumulated Amortization		Net
Patent	$	10,574	$	746	$	9,828
Website		3,500		-		3,500
	$	14,074	$	746	$	13,328

	December 31, 2015
	Cost		Accumulated Amortization		Net
Patent	$	7,718	$	438	$	7,280
Website		3,500		-		3,500
	$	11,218	$	438	$	10,780

During the year ended December 31, 2016, the Company recognized amortization expense of $308 (2015 - $326). The Company estimates the amortization expense of its intangible assets over the next five years to be as follows:

2017	$	309
2018	$	309
2019	$	309
2020	$	309
2021 and later	$	5,737