Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2014

Intangible assets are comprised of the following:

				June 30, 2014						December 31, 2013
				Gross Carrying		Accumulated		Net Carrying		Gross Carrying		Accumulated		Net Carrying
	Useful Life			Amount		Amortizaton		Amount		Amount		Amortizaton		Amount

Acquired intangibles- customer lists and non- compete agreements	5 -10 years			$	1,997,300	$	1,437,971	$	559,329	$	1,997,300	$	1,343,819	$	653,481

Acquired intangibles-patents and patent rights		Varied	(1)		31,506,567		4,211,408		27,295,159		30,356,164		2,042,083		28,314,081

Patent application costs		Varied	(2)		1,012,099		379,753		632,346		965,523		330,494		635,029
				$	34,515,966	$	6,029,132	$	28,486,834	$	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 June 30, 2014, the weighted average remaining useful life of these assets in service was approximately 7.4 years.

(2)

patent application costs are amortized over their expected useful life which is generally the remaining legal life of the patent. As of June 30, 2014, the weighted average remaining useful life of these assets in service was approximately 8.6 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	$	4,602,000
2016	$	4,402,000
2017	$	4,383,000
2018	$	4,247,000
2019	$	3,975,000