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GE Trademark License
 6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
GE Trademark License

Note 5 GE Trademark License Agreement

 

The Company entered into an amended License Agreement with General Electric regarding the GE Trademark License. The License Agreement is amortized through its expiration in November 2018.

 

    June 30, 2017 (Unaudited)     December 31, 2016
(Audited)		  
             
GE Trademark License   $ 12,000,000     $ 12,000,000  
Less: Impairments     —       —  
Less: Accumulated Amortization     (8,537,460 )     (7,324,415 )
GE Trademark License – net   $ 3,462,540     $ 4,675,585  

 

Amortization expense associated with the GE Trademark License amounted to $611,037 and $1,213,043 for the three-months and six-months ended June 30, 2017 and $608,695 and $1,217,391 for the three-months and six-months ended 2016, respectively.

 

At June 30, 2017, future amortization of intangible assets is as follows for the remaining:

  

Year Ending December 31:        
2017     $ 1,222,074  
2018       2,240,466  
      $ 3,462,540