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5. INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
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 $369,508 and $369,508 for the years ended December 31, 2016 and 2015, respectively..

 

Definite life intangible assets consist of the following:

 

  

December 31,

2016

 

December 31,

2015

       
Intellectual Property and Patents  $2,848,300   $2,848,300 
Less: Accumulated Amortization   1,370,260    1,000,752 
Intangible Assets, net  $1,478,040   $1,847,548 

 

Indefinite life intangible assets consist of the following:

 

Trademarks  $440,000   $440,000 
Total Intangible Assets, net  $1,918,040   $2,287,548 

 

Approximate amortization over the next five years is as follows:

 

Twelve Month Period Ending December 31,  Amount
    
 2017   $370,000 
 2018    370,000 
 2019    370,000 
 2020    368,000 
 2021    —   
     $1,478,000