Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2014

Intangible assets are comprised of the following:

		March 31, 2014						December 31, 2013
	Useful Life	Gross Carrying Amount		Accumulated Amortizaton		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortizaton		Net Carrying Amount


Acquired intangibles- customer lists and non-compete agreements	5 -10 years	$	1,997,300	$	1,390,895	$	606,405	$	1,997,300	$	1,343,819	$	653,481
Acquired intangibles-patents and patent rights	Varied (1)		30,356,567		3,122,461		27,234,106		30,356,164		2,042,083		28,314,081
Patent application costs	Varied (2)		1,004,246		355,124		649,122		965,523		330,494		635,029
		$	33,358,113	$	4,868,480	$	28,489,633	$	33,318,987	$	3,716,396	$	29,602,591

(1) acquired patents and patent rights are amortized over their expected useful life which is generally the remaining legal life of the patent. As of March 31, 2014, the weighted average remaining useful life of these assets in service was approximately 6.5 years.

(2) patent application costs are amortized over their expected useful life which is generally the remaining legal life of the patent. As of March 31, 2014, the weighted average remaining useful life of these assets in service was approximately 8.9 years.

Schedule of Estimated Future Amortization of Intangible Assets

Approximate expected intangible asset amortization for each of the five succeeding fiscal years is as follows:

2015	$	4,499,000
2016	$	4,347,000
2017	$	4,278,000
2018	$	4,236,000
2019	$	3,870,000