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5. GE Trademark License Agreement
 3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
5. GE Trademark License Agreement

Note 5 GE Trademark License Agreement

 

The company entered into an amended agreement with General Electric regarding the trademarking of its products. The license is amortized through its expiration in November, 2018.

 

   March 31, 2015  December 31, 2014
           
GE Trademark License  $12,000,000   $12,000,000 
Less: Impairment Charges   —      —   
Less: Accumulated Amortization   (3,036,789)   (2,434,783)
Patents – net  $8,963,211   $9,565,217 

 

At March 31, 2015 future amortization of intangible assets is as follows:

 

 Year Ending December 31      
 2015   $1,839,465 
 2016    2,448,161 
 2017    2,441,472 
 2018    2,234,114 
     $8,963,211