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INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2013
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

NOTE 5: INTANGIBLE ASSETS

 

Prior to December 31, 2013, patents, technology and other intangibles with contractual terms were generally amortized over their estimated useful lives of ten years. When certain events or changes in operating conditions occur, an impairment assessment is performed and lives of intangible assets with determinable lives may be adjusted.

 

Prior to any impairment adjustment, intangible assets consisted of the following:

 

 

 

December 30,

 

December 31,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Patents

 

$

3,563,343

 

$

3,553,651

 

Accumulated Amortization

 

(489,398

)

(135,030

)

Intangible Assets, Net

 

$

3,073,945

 

$

3,418,621

 

 

Amortization expense totaled $354,368 and $135,030 for the year ended December 31, 2013 and 2012, respectively.