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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | NOTE 7 – INTANGIBLE ASSETS, NET The following table sets forth the gross carrying amount, accumulated amortization and net carrying amount of our intangible assets as of December 31, 2015 and 2014:
|  | December 31, 2015 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Amount |  |  | Weighted- Average Remaining Amortization Period (yrs.) |
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OPERA® software patent |  | $ | 31,951 |  |  | $ | (4,493 | ) |  | $ | 27,458 |  |  |  | 13.75 |
Development costs of corporate website |  |  | 91,743 |  |  |  | (91,743 | ) |  |  | — |  |  |  | n/a |
Approved hormone therapy drug candidate patents |  |  | 705,752 |  |  |  | (49,845 | ) |  |  | 655,907 |  |  |  | 17 |
Hormone therapy drug candidate patents (in process) |  |  | 774,165 |  |  |  | — |  |  |  | 774,165 |  |  |  | n/a |
Non-amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multiple trademarks for vitamins/supplements |  |  | 157,721 |  |  |  | — |  |  |  | 157,721 |  |  |  | indefinite |
Total |  | $ | 1,761,332 |  |  | $ | (146,081 | ) |  | $ | 1,615,251 |  |  |  |  |
|  | December 31, 2014 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Amount |  |  | Weighted- Average Remaining Amortization Period (yrs.) |
Amortizable 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 |
Hormone therapy drug candidate patents (in process) |  |  | 675,982 |  |  |  | — |  |  |  | 675,982 |  |  |  | n/a |
Non-amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multiple trademarks for vitamins/supplements |  |  | 103,368 |  |  |  | — |  |  |  | 103,368 |  |  |  | indefinite |
Total |  | $ | 1,342,228 |  |  | $ | (113,640 | ) |  | $ | 1,228,588 |  |  |  |  |
We amortize the approved hormone therapy drug candidate patents using straight-line method over the estimated useful life of approximately 20 years, which is the life of intellectual property patents.. As of December 31, 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 years ended December 31, 2015 and 2014, there was no impairment recognized related to intangible assets. In addition to numerous pending patent applications, as of December 31, 2015, we had fourteen issued patents, including: · 12 utility patents that relate to our combination progesterone and estradiol product candidates, 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, Brazil, Canada, Europe, Israel, Japan, Mexico, Russia, South Africa and South Korea. · one utility patent that relates to TX-004HR, our applicator-free vaginal estradiol softgel product candidate, which establishes an important intellectual property foundation for TX-004HR, is owned by us and is a U.S. jurisdiction patent with an expiration date in 2033. We have pending patent applications with respect to this patent in Argentina, Australia, Brazil, Canada, Europe, Israel, Japan, Mexico, Russia, South Africa, and South Korea. · one utility 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. Amortization expense was $32,441, $23,480, and $10,262 for the years ended December 31, 2015, 2014, and 2013, respectively. Estimated amortization expense for the next five years is as follows:
Year Ending December 31, |  |  | Estimated Amortization |
| 2016 |  |  | $ | 40,580 |
| 2017 |  |  | $ | 40,580 |
| 2018 |  |  | $ | 40,580 |
| 2019 |  |  | $ | 40,580 |
| 2020 |  |  | $ | 40,580 |

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