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INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2015
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, 2015 and December 31, 2014:
|  | March 31, 2015
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Amount |  | Weighted- Average Amortization Period (yrs.)
Amortizing intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OPERA® software patent |  | $ | 31,951 |  |  | $ | (2,995 | ) |  | $ | 28,956 |  |  |  | 14.5 |
Development costs of corporate website |  |  | 91,743 |  |  |  | (91,743 | ) |  |  | — |  |  |  | n/a |
Approved hormone therapy drug candidate patents |  |  | 439,184 |  |  |  | (25,593 | ) |  |  | 413,591 |  |  |  | 17.75 |
Non-amortizing intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hormone therapy drug candidate patents (pending) |  |  | 691,465 |  |  |  | — |  |  |  | 691,465 |  |  |  | n/a |
Multiple trademarks for vitamins/supplements |  |  | 124,738 |  |  |  | — |  |  |  | 124,738 |  |  |  | n/a |
Total |  | $ | 1,379,081 |  |  | $ | (120,331 | ) |  | $ | 1,258,750 |  |  |  |  |
|  | December 31, 2014
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Amount |  | Weighted- Average Amortization Period (yrs.)
Amortizing intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OPERA® software patent |  | $ | 31,951 |  |  | $ | (2,496 | ) |  | $ | 29,455 |  |  |  | 14.75 |
Development costs of corporate website |  |  | 91,743 |  |  |  | (91,743 | ) |  |  | — |  |  |  | n/a |
Approved hormone therapy drug candidate patents |  |  | 439,184 |  |  |  | (19,401 | ) |  |  | 419,783 |  |  |  | 18 |
Non-amortizing intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hormone therapy drug candidate patents (pending) |  |  | 675,982 |  |  |  | — |  |  |  | 675,982 |  |  |  | n/a |
Multiple trademarks for vitamins/supplements |  |  | 103,368 |  |  |  | — |  |  |  | 103,368 |  |  |  | n/a |
Total |  | $ | 1,342,228 |  |  | $ | (113,640 | ) |  | $ | 1,228,588 |  |  |  |  |
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. The average enforceable life of patents is 20 years. We amortize the intangible asset related to OPERA® using the straight-line method over the estimated remaining useful life of approximately 15 years. We amortize the approved hormone therapy drug candidate patents using straight-line method over the estimated remaining useful life of approximately 18 years. During the three months ended March 31, 2015 and 2014, there was no impairment recognized. In addition to numerous pending patent applications, as of March 31, 2015, we had nine issued patents, including:
| • | one method patent that relates to our OPERA® information technology platform, which is owned by us and is a U.S. jurisdiction patent with an expiration date in 2029;
| • | eight utility patents that relate to our combination progesterone and estradiol formulations, which are owned by us and are U.S. jurisdiction patents with expiration dates in 2032. We have pending patent applications with respect to certain of these patents in Argentina, Australia, Canada, the European Union, Israel, Mexico, Brazil, Japan, Russia, South Africa and South Korea.
Subsequent to March 31, 2015, two additional patents were issued related to our combination progesterone and estradiol formulations. Amortization expense was $6,691 and $5,946 for the three months ended March 31, 2015 and 2014, respectively. Estimated amortization expense for the next five years is as follows:
Year Ending December 31, |  | Estimated Amortization
| 2015 (9 months) |  |  | $ | 20,074 |
| 2016 |  |  | $ | 26,765 |
| 2017 |  |  | $ | 26,765 |
| 2018 |  |  | $ | 26,765 |
| 2019 |  |  | $ | 26,765 |

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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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