v2.3.0.15
Intangible Assets
9 Months Ended
Sep. 30, 2011
Intangible Assets [Abstract] 
Intangible Assets

4. INTANGIBLE ASSETS

Intangible assets with definite lives are amortized over their estimated useful lives. The following table provides a summary of the Company's intangible assets with definite lives:

 

     Proprietary
Manufacturing
Technology		     Non-Compete
Agreement		     Trade Name     Total  

Net carrying amount as of December 31, 2009

    $ 130,778      $ 69,792      $ 87,083      $ 287,653   

Amortization

      (130,778 )      (12,500 )      (55,000 )      (198,278 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net carrying amount as of December 31, 2010

      —          57,292        32,083        89,375   

Amortization

      —          (9,376 )      (32,083 )      (41,459 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Net carrying amount as of September 30, 2011

    $ —        $ 47,916      $ —        $ 47,916   
  

 

 

    

 

 

    

 

 

    

 

 

  

Amortizable intangible assets were amortized over four years for trade name usage and five years for proprietary manufacturing technology. A non-compete agreement is being amortized over eight years. Amortization expense related to intangible assets with definite lives was $7,708 and $40,653 for the three months ended September 30, 2011 and 2010, respectively, and $41,459 and $181,403 for the nine months ended September 30, 2011 and 2010, respectively.

 

Estimated future amortization expense related to intangible assets with definite lives is as follows:

 

Year

    Amortization         

2011

    $ 3,125         October 1, 2011 through December 31, 2011   

2012

      12,500      

2013

      12,500      

2014

      12,500      

2015

      7,291      
  

 

 

     

Total

    $ 47,916