INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

NOTE 5: INTANGIBLE ASSETS

For the three months ended March 31, 2017, the Company invested in software development and patents in the amounts of $50,970 and $-0- respectively; and $-0- and 36,067 for the three months ended March 31, 2016, respectively.

Prior to December 31, 2015, patents, technology and other intangibles with contractual terms were generally amortized over their estimated useful lives of ten years. When certain events or changes in operating conditions occur, an impairment assessment is performed and lives of intangible assets with determinable lives may be adjusted.

Software development costs are amortized over their estimated useful life of three years.

Prior to any impairment adjustment, intangible assets consisted of the following:

	March 31,		December 31,
	2017		2016
Patents	$	3,697,710	$	3,697,710
Capitalized software development		672,537		621,567
Accumulated amortization		(2,151,069)		(2,006,028)
Intangible assets, net	$	2,219,178	$	2,313,249

Amortization expense for patents totaled $91,582 and $92,779 for the three months ended March 31, 2017 and 2016, respectively. Amortization expense for software development totaled $53,459 and $45,759 for the three months ended March 31, 2017 and 2016, respectively.

Total amortization expense totaled $145,041 and $138,538 for the three months ended March 31, 2017 and 2016, respectively.