XML 54 R13.htm IDEA: XBRL DOCUMENT

INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 8 – INTANGIBLE ASSETS, NET

The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of our intangible assets as of September 30, 2015 and December 31, 2014:

		September 30, 2015
		Gross Carrying Amount				Accumulated Amortization				Net Amount				Weighted- Average Amortization Period (yrs.)
Amortizing intangible assets:
OPERA^®software patent		$	31,951			$	(3,994	)		$	27,957				14
Development costs of
corporate website			91,743				(91,743	)			—				n/a
Approved hormone
therapy drug
candidate patents			605,502				(40,199	)			565,303				17.25
Non-amortizing intangible
assets:
Hormone therapy drug
candidate patents
(pending)			585,241				—				585,241				n/a
Multiple trademarks for
vitamins/supplements			145,783				—				145,783				indefinite
Total		$	1,460,220			$	(135,936	)		$	1,324,284

		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				indefinite
Total		$	1,342,228			$	(113,640	)		$	1,228,588

We capitalize external costs, consisting primarily of legal costs, related to securing our patents and trademarks. Once a patent is granted, we amortize the capitalized patent costs over the remaining life of the patent using the straight-line method. If the patent is not granted, we write-off any capitalized patent costs at that time.

Trademarks are perpetual and are not amortized. As of September 30, 2015, the remaining life related to OPERA® patent was approximately 14 years and the remaining life related to the approved hormone therapy drug candidate patents was approximately 17 years. During the three and nine months ended September 30, 2015 and 2014, there was no impairment recognized.

In addition to numerous pending patent applications, as of September 30, 2015, we had 13 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;
	·	twelve 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.

Amortization expense was $8,692 and $5,625 for the three months ended September 30, 2015 and 2014, respectively and $22,296 and $17,196 for the nine months ended September 30, 2015 and 2014, respectively. Estimated amortization expense for the next five years is as follows:

Year Ending December 31,				Estimated Amortization
	2015 (3 months)			$	8,692
	2016			$	34,768
	2017			$	34,768
	2018			$	34,768
	2019			$	34,768