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Note 5 - Intangible Assets
 12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 5 — Intangible Assets

 

Intangible assets consist of a patent purchased in 2004 for $600,000 covering the design and functioning of plug-in bar code scanners, bar code imagers, and radio frequency identification products, which was amortized on a straight line basis over its estimated life of ten years. The Company completed the amortization of the patent in the first half of 2014. Intangible assets of $570,750 remaining from a prior acquisition in 2000 consisting of developed software and technology with estimated lives at the time of acquisition of 8.5 years was fully amortized in the quarter ended June 30, 2009. 

 

Amortization of all intangible assets in the years ended December 31, 2015 and 2014, was $0 and $30,000, respectively, and is included in research and development expense. Intangible assets as of December 31, 2015 and 2014 consisted of the following:

 

   Gross
Assets		  Accumulated
Amortization		  Net
Patent  $600,000   $600,000   $—   
Project management tools    570,750    570,750    —   
     Total intangible assets   $1,170,750  $1,170,750  $—