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Intangible Assets | 9 Months Ended
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Sep. 30, 2016
Intangible Assets [Abstract] |
INTANGIBLE ASSETS |
9. | INTANGIBLE ASSETS
The intangible assets described in Note 8 are being amortized over their useful lives, which are estimated to be 10 years. Intangible amortization expense was ($133) and $15,309 during the three-month and nine-month periods ended September 30, 2016, respectively. The immaterial credit to amortization expense during the three-month period ended September 30, 2016 resulted from an adjustment to correct an immaterial over-recognition of this expense during the six-month period ended June 30, 2016. The net value of these intangibles was $175,731 as of September 30, 2016. A summary of intangible amortization expense estimated for the five years beginning January 1, 2016 and thereafter is as follows:
Period |  | Amount |
Three months ending December 31, 2016 |  | $ | 9,847 |
Year ending December 31, 2017 |  |  | 39,387 |
Year ending December 31, 2018 |  |  | 39,387 |
Year ending December 31, 2019 |  |  | 12,444 |
Year ending December 31, 2020 |  |  | 12,444 |
After December 31, 2020 |  |  | 62,222 |
Total |  | $ | 175,731 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: 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 2: 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 3: 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 + Details
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