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Intangible Assets
 12 Months Ended
Dec. 31, 2011
Intangible Assets [Abstract]  
Intangible Assets
3. INTANGIBLE ASSETS

Intangible assets consist of patents, patent applications, licenses and covenants not to compete arising from business combinations. Capitalized patent application costs are included with patents. Intangible assets are amortized on a straight-line basis over their estimated useful lives or terms of their agreement, whichever is shorter. The Company wrote off costs related to patent applications of $1,000 in 2011 and $31,000 in 2010. No other impairment adjustments to intangible assets were made during the years ended December 31, 2011 or 2010.

Intangible assets at December 31, 2011 and 2010 consist of the following:

 

                                 
    December 31, 2011     December 31, 2010  
    Gross Carrying
Amount		     Accumulated
Amortization		     Gross Carrying
Amount		     Accumulated
Amortization		  

Amortized intangible assets:

                                

Patents

   $ 350,816     $ (130,166 )    $ 291,151     $ (123,489 ) 

Licenses

     100,000       (75,628 )      100,000       (67,500 ) 

Non-compete agreements

     303,000       (221,660 )      303,000       (185,994 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  
    $ 753,816     $ (427,454 )    $ 694,151     $ (376,983 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

 

                 
     2011     2010  

Aggregate amortization expense:

                

For the years ended December 31

   $ 50,471     $ 51,407  

Estimated amortization expense for the years ending December 31:

 

         

2012

     48,000  

2013

     44,000  

2014

     15,000  

2015

     11,000  

2016

     8,000  

In connection with the license agreements, the Company has agreed to pay royalties ranging from 3% to 5% on the sales of products subject to the agreements. The Company incurred $94,000 of expense under these agreements during 2011, and $87,000 during 2010 which have been included in selling, general and administrative expenses in the Statements of Income.