XML 17 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Intangible Assets
9 Months Ended
Sep. 30, 2014
Intangible Assets [Abstract]  
Intangible Assets

Note 3. Intangible Assets

 

The following is a summary of intangible assets which consists of licenses and patents:

 

  Weighted Average Remaining Amortization Period 
(years)
  Cost  Accumulated 
Amortization
  Net Book 
Value
 
September 30, 2014            
Licenses  6.0  $462,234  $299,629  $162,605 
Patents  2.1   1,893,185   1,589,576   303,609 
Total  2.8  $2,355,419  $1,889,205  $466,214 
December 31, 2013                
Licenses  6.7  $462,234  $279,258  $182,976 
Patents  2.6   1,893,185   1,443,649   449,536 
Total  3.4  $2,355,419  $1,722,907  $632,512 

 

Amortization expense was $56,265 and $56,266 for the three months ended September 30, 2014 and 2013 respectively, and $166,298 and $166,962 for the nine months ended September 30, 2014 and 2013 respectively.

 

Based on the balance of licenses and patents at September 30, 2014, the expected annual amortization expense for each of the succeeding five years is estimated to be as follows:

 

Year Amortization 
Expense
 
October 1 through December 31, 2014 $56,500 
2015 $172,500 
2016 $61,800 
2017 $61,800 
2018 $20,800