XML 21 R9.htm IDEA: XBRL DOCUMENT

Intangible Assets

9 Months Ended

Sep. 30, 2017

4. Intangible Assets

Intangible assets are comprised of the following:

	September 30, 2017							December 31, 2016
	Useful Life		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Acquired intangibles - customer lists and non-compete agreements	5-10 years		1,997,300		1,785,932		211,368		1,997,300		1,721,357		275,943
Acquired intangibles - patents and patent rights	Varied (1)		3,155,000		2,476,149		678,851		3,155,000		2,092,767		1,062,233
Patent application costs	Varied (2)		1,141,368		644,548		496,820		1,136,465		578,623		557,842
		$	6,293,668	$	4,906,629	$	1,387,039	$	6,288,765	$	4,392,747	$	1,896,018

	⁽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 September 30, 2017, the weighted average remaining useful life of these assets in service was approximately 1.84 years.

	⁽²⁾	Patent application costs are amortized over their expected useful life which is generally the remaining legal life of the patent. As of September 30, 2017, the weighted average remaining useful life of these assets in service was approximately 6.3 years.

Intangible asset amortization expense for the nine months ended September 30, 2017 amounted to $513,881 ($530,015 - September 30, 2016).