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INTANGIBLE ASSETS | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2014 | Dec. 31, 2013
INTANGIBLE ASSETS [Abstract] |  |
INTANGIBLE ASSETS | NOTE 3 - INTANGIBLE ASSETS Intangible assets consist of the following:
|  | June 30, 2014 |  |  | December 31, 2013 |  |
|  | (Unaudited) |  |  |  |  |
HDR |  | $ | 213,481 |  |  | $ | 146,061 |
SRIO |  |  | 109,462 |  |  |  | 102,259 |  |
New product development |  |  | 6,213 |  |  |  | - |  |
Software |  |  | 200,000 |  |  |  | 200,000 |  |
|  |  | 529,156 |  |  |  | 448,320 |  |
Less: accumulated amortization |  |  | (71,648 | ) |  |  | (55,819 | ) |
|  | $ | 457,508 |  |  | $ | 392,501 |  |
Intangible assets consist of legal and global patent registration costs related to the Company's technology HDR (Handheld biometric mobile devices) and SRIO (Biometric wallet devices). Intangible assets are amortized over ten years. | 5. INTANGIBLE ASSETS Intangible assets consist of the following as of December 31, 2013 and 2012:
|  | 2013 |  |  | 2012 |
HDR |  | $ | 146,706 |  |  | $ | 130,432 |
SRIO |  |  | 102,259 |  |  |  | 86,673 |
Software |  |  | 200,000 |  |  |  | - |
|  |  | 448,965 |  |  |  | 217,105 |
Less amortization |  |  | (55,819 | ) |  |  | (32,772 | )
|  | $ | 393,146 |  |  | $ | 184,333 |
Intangible assets consist of legal and global patent registration costs related to the Company's technology HDR (Handheld biometric mobile devices) and SRIO (Biometric wallet devices). In April 2013, the Company purchased software from an unrelated third party for $200,000 in cash. The software purchased is an Android platform application which provides the capability to make NFC type of payment transactions on Point of Sale terminals. The Company plans to incorporate this software into our SRIO product to be sold along with the actual device.

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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 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 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=26713463&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 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 + Details
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