Quarterly report pursuant to Section 13 or 15(d)

Long lived assets subject to amortization

v3.5.0.2
Long lived assets subject to amortization
9 Months Ended
Sep. 30, 2016
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]  
Long lived assets subject to amortization

Note 4 – Long lived assets subject to amortization

 

Intangible assets are comprised of technology, trademarks and license rights which are recorded at cost.

 

    September 30, 2016   December 31, 2015
Technology   $ 3,083,186     $ 3,077,244  
Marketing and distribution agreement     370,000       370,000  
Trademarks     1,026       264  
License rights     607       1,368  
      3,454,818       3,448,856  
Accumulated amortization     (1,064,648 )     (695,271 )
Technology and other intangibles, net   $ 2,390,170     $ 2,753,585  

 

On August 2, 2014, the company commenced amortization of technology and other intangibles upon delivery of commercial beta devices for testing to a collaboration partner. During the three and nine months ended September 30, 2016 and 2015, $122,736, (2015 - $122,865) and $369,312, (2015 - $368,798) was recorded as amortization on technology and other intangibles. The Company’s estimated technology amortization over the next five years is expected to be $2,469,338.