INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

NOTE 4 — INTANGIBLE ASSETS

For the three months ended March 31, 2018 and 2017, the Company invested in Software development costs in the amounts of $75,825 and $50,970 respectively.

Patents, technology and other intangibles with contractual terms are 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.

Software development costs are amortized over their estimated useful life of three years.

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

	March 31, 2018		December 31, 2017
Patents	$	3,697,709	$	3,697,709
Capitalized software development		1,081,194		1,005,369
Accumulated amortization		(2,661,963)		(2,538,615)
Intangible assets, net	$	2,116,940	$	2,164,463

Amortization expense for patents totaled $87,026 and $91,582 for the three months ended March 31, 2018 and 2017, respectively. Amortization expense for software development totaled $36,322 and $53,459 for the three months ended March 31, 2018 and 2017, respectively.

Total amortization expense totaled $123,348 and $145,041 for the three months ended March 31, 2018 and 2017, respectively.