Annual report pursuant to Section 13 and 15(d)

Patents and Trademarks, Net

v3.3.1.900
Patents and Trademarks, Net
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Patents and Trademarks, Net
Note 4 — Patents and Trademarks, Net
 
 
 
December 31,
 
December 31,
 
 
 
2015
 
2014
 
 
 
 
 
 
 
Patents and Trademarks
 
$
867,545
 
$
697,591
 
Less: Accumulated Amortization
 
 
(351,848)
 
 
(274,102)
 
 
 
 
 
 
 
 
 
Net
 
$
515,697
 
$
423,489
 
 
Total amortization expense for patents and trademarks for the years ending December 31, 2015 and 2014 was $86,478 and $54,050, respectively. The estimated aggregate annual amortization expense for each of the next five fiscal years is approximately $63,126. We recorded an impairment charge of $13,222 representing cost of $21,954, less accumulated amortization of $8,732 for the year ending December 31, 2015. We recorded an impairment charge of $104,716 representing cost of $166,500, less accumulated amortization of $61,784 for the year ending December 31, 2014 regarding our abandoned patents and trademarks.