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INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 8 – INTANGIBLE ASSETS

The following table sets forth the gross carrying amount and accumulated amortization of our intangible assets as of March 31, 2014 and December 31, 2013:

		March 31, 2014
		Gross Carrying Amount				Accumulated Amortization				Net Amount				Weighted- Average Amortization Period (yrs.)
Amortizing intangible assets:

OPERA® software patent		$	31,951			$	(999	)		$	30,952				15.5

Development costs of
corporate website			91,743				(91,743	)			—				n/a

Approved hormone
therapy drug
candidate patents			255,649				(3,364	)			252,285				18.75

Non-amortizing intangible
assets:
Hormone therapy drug
candidate patents (pending)			412,406				—				412,406				n/a

Multiple trademarks for
vitamins/supplements			61,283				—				61,283				n/a
Total		$	853,032			$	(96,106	)		$	756,926

		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 of corporate website			91,743				(89,661	)			2,082				0.3

Non-amortizing intangible assets:
Hormone therapy drug candidate patents (pending)			572,726				—				572,726				n/a

Multiple trademarks for vitamins/supplements			59,328				—				59,328				n/a
Total		$	755,748			$	(90,160	)		$	665,588

We amortize the intangible asset related to development costs for corporate website over 36 months, which is the prescribed life for software and website development costs. We amortize the intangible asset related to OPERA® using the straight-line method over the estimated remaining useful life of approximately 16 years, which is the life of the intellectual property patents. We amortize the approved hormone therapy drug candidate patents using straight-line method over the estimated remaining useful life of approximately 19 years. During the three months ended March 31, 2014 and 2013, there was no impairment recognized.

Amortization expense was $5,946 and $3,254 for the three months ended March 31, 2014 and 2013, respectively. Estimated amortization expense for the next five years is as follows:

Year Ending December 31,				Estimated Amortization
	2014 (9 months)			$	11,589
	2015			$	15,452
	2016			$	15,452
	2017			$	15,452
	2018			$	15,452