Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

NOTE 8 – Intangible Assets

The Company’s intangible assets consist of Patents, Patent Pending Applications and Customer Contacts.

Provisional patent applications are not amortized until a patent has been granted. Once a patent is granted, the Company will amortize the related costs over the estimated useful life of the patent. If a patent application is denied, then the costs will be expensed at that time.

The customer contacts were acquired in a business acquisition on December 31, 2011 and were to be amortized over their estimated useful life of 3 years.

The following is a summary of definite-life intangible assets less accumulated amortization as of December 31, 2014 and 2013, respectively:

	Year Ended December 31,
	2014		2013
Provisional Patent Applications	$	63,823	$	36,161
Patents		39,252		39,252
Customer Contacts		262,009		262,009
Less:  Accumulated Amortization		(269,237)		(266,928)
Net Intangible Assets	$	95,847	$	70,494

Amortization expense on intangible assets was $2,309 and $89,513 for the years ended December 31, 2014 and 2013. In addition, an impairment of customer contacts in the amount of $87,340 was recorded in the year ending December 31, 2013.

The estimated aggregate amortization expense for each of the succeeding years ending December 31 is as follows:

2015	$	2,309
2016		2,309
2017		2,309
2018		2,309
2019		2,309
Thereafter		20,479
	$	32,024