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INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 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 June 30, 2014 and December 31, 2013:
|  | June 30, 2014 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Amount |  |  | Weighted- Average Remaining Amortization Period (yrs.) |
Amortizing intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OPERA® software patent |  | $ | 31,951 |  |  | $ | (1,498 | ) |  | $ | 30,453 |  |  |  | 15.25 |
Development costs of corporate website |  |  | 91,743 |  |  |  | (91,743 | ) |  |  | — |  |  |  | n/a |
Approved hormone therapy drug candidate patents |  |  | 387,806 |  |  |  | (8,489 | ) |  |  | 379,317 |  |  |  | 18.75 |
Non-amortizing intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hormone therapy drug candidate patents (pending) |  |  | 381,369 |  |  |  | — |  |  |  | 381,369 |  |  |  | n/a |
Multiple trademarks for vitamins/supplements |  |  | 75,968 |  |  |  | — |  |  |  | 75,968 |  |  |  | n/a |
Total |  | $ | 968,837 |  |  | $ | (101,730 | ) |  | $ | 867,107 |  |  |  |  |
|  | December 31, 2013 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Amount |  |  | Weighted- Average Remaining 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 useful life of approximately 20 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 useful life of approximately 20 years. During the three and six months ended June 30, 2014 and 2013, there was no impairment recognized. Amortization expense was $5,625 and $3,255 for the three months ended June 30, 2014 and 2013, respectively and $11,570 and $6,509 for the six months ended June 30, 2014 and 2013, respectively. Estimated amortization expense for the next five years is as follows:
Year Ending December 31, |  | Estimated Amortization |
2014 (6 months) |  | $ | 11,250 |
2015 |  | $ | 22,500 |
2016 |  | $ | 22,500 |
2017 |  | $ | 22,500 |
2018 |  | $ | 22,500 |

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- Definition The entire disclosure for all or part of the information related to 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 -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 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 + Details
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