INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2013

INTANGIBLE ASSETS [Abstract]

INTANGIBLE ASSETS

5. INTANGIBLE ASSETS

Intangible assets consist of the following as of December 31, 2013 and 2012:

	2013			2012
HDR	$	146,706		$	130,432
SRIO		102,259			86,673
Software		200,000			-
		448,965			217,105
Less amortization		(55,819	)		(32,772	)
	$	393,146		$	184,333

Intangible assets consist of legal and global patent registration costs related to the Company's technology HDR (Handheld biometric mobile devices) and SRIO (Biometric wallet devices).

In April 2013, the Company purchased software from an unrelated third party for $200,000 in cash. The software purchased is an Android platform application which provides the capability to make NFC type of payment transactions on Point of Sale terminals.  The Company plans to incorporate this software into our SRIO product to be sold along with the actual device.