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5. INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
NOTE 5. INTANGIBLE ASSETS | Intangible assets consist of patents and trademarks related to our Binary Ionization Technology. All of these assets were pledged as collateral for the convertible notes as described below in Note 6. The patents are being amortized over the estimated remaining lives of the related patents. The trademarks have an indefinite life. Amortization expense was $92,000 and $277,000 for the three and nine months ended September 30, 2016. Amortization expense was $92,000 and $277,000 for the three and nine months ended September 30, 2015. Definite life intangible assets consist of the following:
|  | September 30, 2016 (Unaudited) |  |  | December 31, 2015 |
Intellectual Property and Patents |  | $ | 2,848,300 |  |  | $ | 2,848,300 |
Less: Accumulated Amortization |  |  | 1,277,883 |  |  |  | 1,000,752 |
Intangible Assets, net |  | $ | 1,570,417 |  |  | $ | 1,847,548 |
Indefinite life intangible assets consist of the following: |  |  |  |  |  |  |  |
Trademarks |  | $ | 440,000 |  |  | $ | 440,000 |
Total Intangible Assets, net |  | $ | 2,010,417 |  |  | $ | 2,287,548 |
Approximate amortization over the next five years is as follows:
Twelve Month Period Ending September 30, |  | Amount |
2017 |  | $ | 370,000 |
2018 |  |  | 370,000 |
2019 |  |  | 370,000 |
2020 |  |  | 370,000 |
2021 |  |  | 90,000 |
|  | $ | 1,570,000 |

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