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5. INTANGIBLE ASSETS AND ASSET ACQUISITION (Tables) | 12 Months Ended
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Dec. 31, 2015
Intangible Assets And Asset Acquisition Tables |
Definite life intangible assets |
|  | December 31, 2015 |  |  | December 31, 2014 |
Intellectual Property and Patents |  | $ | 2,848,300 |  |  | $ | 2,848,300 |
Less: Accumulated Amortization |  |  | 1,000,752 |  |  |  | 631,244 |
Intangible Assets, net |  | $ | 1,847,548 |  |  | $ | 2,217,056 |
Indefinite life intangible assets |
Trademarks |  | $ | 440,000 |  |  | $ | 440,000 |
Total Intangible Assets, net |  | $ | 2,287,548 |  |  | $ | 2,657,056 |
Approximate amortization over the next five years |
Twelve Month Period Ending December 31, |  | Amount |
2016 |  | $ | 370,000 |
2017 |  |  | 370,000 |
2018 |  |  | 370,000 |
2019 |  |  | 370,000 |
2020 |  |  | 368,000 |
|  | $ | 1,848,000 |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -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 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of characteristics and cost, by total and major class, of indefinite-lived intangible assets acquired as part of a business combination. Indefinite-lived intangible assets are assets that have no physical form, but have expected future economic benefit. The future benefit is not expected to diminish over a stated period of time. Acquired indefinite-lived intangible assets are disclosed by major class (assets that can be grouped together because they are similar, either by their nature or by their use in operations of the entity) and in total. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4922-128472 + Details
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived 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 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 + Details
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