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INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 7 – INTANGIBLE ASSETS

  

The following table sets forth the gross carrying amount and accumulated amortization of our intangible assets as of December 31, 2013 and December 31, 2012: 

 

    December 31, 2013  
    Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Amount		     Weighted-
Average
Amortization
Period (yrs.)		  
Amortizing intangible assets:                        
                         
OPERA® software patent   $ 31,951     $ (499 )   $ 31,452       15.8  
Development costs for corporate website     91,743       (89,661 )     2,082       0.3  
                                 
Non-amortizing intangible assets:                                
                                 
Hormone therapy drug candidate patents     572,726       —       572,726       n/a  
Multiple trademarks for vitamins/supplements     59,328       —       59,328       n/a  
Total   $ 755,748     $ (90,160 )   $ 665,588          

 

    December 31, 2012  
    Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Amount		     Weighted-
Average
Amortization
Period (yrs.)		  
Amortizing intangible assets:                                
                                 
OPERA ® software patent   $ 23,722     $ 0     $ 23,722       0  
Development costs for corporate website     91,743       (77,159 )     14,584       1.3  
                                 
Non-amortizing intangible assets:                                
                                 
Hormone therapy drug candidate patents     180,194       —       180,194       n/a  
Multiple trademarks for vitamins/supplements     21,055       —       21,055       n/a  
Total   $ 316,714     $ (77,159 )   $ 239,555          

 

The intangible asset related to development costs for corporate website is amortized over 36 months, which is the prescribed life for software and website development costs. The intangible asset related to OPERA® is amortized using the straight-line method over the estimated remaining useful life of 16 years, which is the life of the intellectual property patents.  During the year ended December 31, 2013, there was no impairment recognized.

  

Amortization expense was $13,001, $28,776, $29,159 for the years ended December 31, 2013, 2012, and 2011, respectively. Estimated amortization expense for the next five years is as follows:

 

 

Year Ending December 31,   Estimated Amortization  
2014   $ 4,080  
2015     1,997  
2016     1,997  
2017     1,997  
2018     1,997