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Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Components of Intangible Assets

The components of our intangible assets at March 31, 2015 are summarized below:

 

Intangible Asset Class

   Cost      Accumulated
Amortization
     Net
Carrying
Amount
     Weighted
Average
Amortization
Period
 

Patents

   $ 1,243,612       $ (907,585    $ 336,027         17 years   
Expected Future Annual Amortization Expense

The expected future annual amortization expense for each of the next five years based on current balances of our intangible assets is approximately as follows:

 

For the year ending December 31:       

2016

   $ 75,496   

2017

   $ 54,923   

2018

   $ 27,978   

2019

   $ 27,978   

2020

   $ 26,594