INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

NOTE 4 — INTANGIBLE ASSETS

For the nine months ended September 30, 2018 and 2017, the Company invested in software development costs in the amounts of $308,933 and $234,841 respectively.

Patents, technology and other intangibles with contractual terms are 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:

	September 30, 2018			December 31, 2017
Patents	$	3,697,709		$	3,697,709
Capitalized software development		1,314,302			1,005,369
Accumulated amortization		(2,911,253	)		(2,538,615	)
Intangible assets, net	$	2,100,758		$	2,164,463

Amortization expense for patents totaled $93,657 and $274,341 for the three and nine months ended September 30, 2018, respectively; and $93,648 and $278,878 for the three and nine months ended September 30, 2017, respectively. Amortization expense for software development totaled $25,653 and $98,297 for the three and nine months ended September 30, 2018, respectively; and $48,295 and $155,213 for the three and nine months ended September 30, 2017, respectively.

Total amortization expense totaled $372,638 and $434,091 for the nine months ended September 30, 2018 and 2017, respectively.