INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2014

INTANGIBLE ASSETS [Abstract]

INTANGIBLE ASSETS

7. INTANGIBLE ASSETS

Intangible assets consist of the following:

	December 31,						Weighted Average Amortization Period
	2014			2013			(in Years)
Patents	$	912,862		$	858,397			1.4
Trademarks		50,208			51,356			3.0
License rights		6,718			6,718			0.0
Total		969,788			916,471
Less accumulated amortization		(752,841	)		(590,604	)
Intangible assets, net	$	216,947		$	325,867

Amortization expense for the years ended December 31, 2014 and 2013 was approximately $162,000 and $131,000, respectively. Amortization expense on existing intangible assets is estimated to be $146,000 per year for 2015, $61,000 for 2016, and $8,000 for 2017.