Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

NOTE 7 – Intangible Assets

The Company’s intangible assets consist of Patents, Patent Pending Applications and Customer Contacts.

Provisional patent applications are not amortized until a patent has been granted. Once a patent is granted, the Company will amortize the related costs over the estimated useful life of the patent. If a patent application is denied, then the costs will be expensed at that time.

The customer contacts were acquired in a business acquisition on December 31, 2011 (See Note 10) and will be amortized over their estimated useful life of 3 years.

The following is a summary of definite-life intangible assets less accumulated amortization as of December 31, 2013 and 2012:

	Year Ended December 31,
	2013		2012

Provisional Patent Applications	$	36,161	$	42,669
Patents		39,252		17,200
Customer Contacts		262,009		262,009
Less: Accumulated Amortization		(266,928)		(90,075)

Net Intangible Assets	$	70,494	$	231,803

Amortization expense on intangible assets was $89,513 and $88,347 for the years ended December 31, 2013 and 2012. In addition, an impairment of customer contacts in the amount of $87,340 was recorded in the year ending December 31, 2013.

The estimated aggregate amortization expense for each of the succeeding years ending December 31 is as follows:

2014		2,304
2015		2,309
2016		2,309
2017		2,309
2018		2,309
Thereafter		22,793

	$	34,333