Note 7 - Intangible Assets

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note

7.

Patents

 

The Company holds patents related to its stem cell and small molecule technologies. Patent costs are capitalized and are being amortized over the life of the patents. The weighted average remaining unamortized life of issued patents was approximately

8.5

years at

December

31,

2016.

Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset

may

not be recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. During the years ended

December

31,

2016

and

2015,

no significant impairment losses were recognized.

The Company’s intangible assets and accumulated amortization consisted of the following at

December

31,

2016

and

2015:

	2016			2015
Patent asset	$	1,950,823		$	1,887,798
Accumulated amortization		(960,670	)		(784,331	)
Net intangibles	$	990,153		$	1,103,467

Amortization expense for the years ended

December

31,

2016

and

2015

was approximately

$176,000

and

$197,000,

respectively. The expected average future annual amortization expense over the next

five

years is approximately

$96,000

based on current balances of our intangible assets.