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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | NOTE 7: INTANGIBLE ASSETS Intangible assets consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2016 |  |  | 2015 |
Patents |  | $ | 639,000 |  |  | $ | 1,630,000 |
Capitalized license costs |  |  | - |  |  |  | 200,000 |
Software |  |  | 113,540 |  |  |  | 113,540 |
Intangible assets |  |  | 752,540 |  |  |  | 1,943,540 |
Less: accumulated amortization |  |  | (112,100 | ) |  |  | (242,975 | )
Total intangible assets, net |  | $ | 640,440 |  |  | $ | 1,700,565 |
Intangible assets amounted to $640,440 and $1,700,565 as of December 31, 2016, and December 31, 2015, respectively, and consisted of patents, capitalized license costs and software acquired. The amortization period for the purchased software is three years. Amortization expense related to software for the years ended December 31, 2016 and 2015 was $28,806 and $30,820, respectively. Patent assets are amortized based on their determined useful life, and tested annually for impairment. We continuously evaluate and reprioritize our research and development pipeline based on the most recent business strategies, and as a result have delayed plans to develop and invest further in Acueity patents and technologies. In 2016 and 2015, we evaluated the Acueity assets and determined that the assets were impaired for the year ended December 31, 2016 and we reduced the net carrying value of the patents by $718,970. No such impairment was recorded in 2015. The amortization period of the patents is from 7 to 12 years. Amortization expense related to intangible assets was $149,015 and $199,437 for the years ended December 31, 2016 and 2015, respectively. Capitalized license costs consisted of fees paid to A5 Genetics KFT, Corporation, pursuant to which the Company received the world-wide (other than the European Union) exclusive license to use the software in the NextCYTE test. The Company terminated this agreement in 2016 and wrote-off the remaining balance of the asset of $163,333 in 2016. Amortization expense related to license costs was $0 and $16,667 for the years ended December 31, 2016 and 2015, respectively. Future estimated amortization expenses as of December 31, 2016, for the five succeeding years and thereafter is as follows:
Years Ending December 31, |  | Amounts |
2017 |  | $ | 90,846 |
2018 |  |  | 70,893 |
2019 |  |  | 70,285 |
2020 |  |  | 70,285 |
2021 |  |  | 70,285 |
Thereafter |  |  | 267,846 |
|  | $ | 640,440 |

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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