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INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2013
INTANGIBLE ASSETS  
Schedule of components of intangible assets

 

 

 

 

December 31, 2013

 

December 31, 2012

 

 

 

Gross Carrying

 

Accumulated

 

Gross Carrying

 

Accumulated

 

 

 

Amount

 

Amortization

 

Amount

 

Amortization

 

 

 

 

 

 

 

 

 

 

 

Amortized intangible assets:

 

 

 

 

 

 

 

 

 

Patents

 

$

455,068

 

$

(155,970

)

$

384,464

 

$

(141,447

)

Licenses

 

100,000

 

(86,459

)

100,000

 

(83,334

)

Non-compete agreements

 

303,000

 

(292,992

)

303,000

 

(257,326

)

 

 

$

858,068

 

$

(535,421

)

$

787,464

 

$

(482,107

)

 

 

 

2013

 

2012

 

Aggregate amortization expense:

 

 

 

 

 

For the years ended December 31

 

$

53,314

 

$

54,653

 

Schedule of estimated amortization expense

 

 

2014

 

$

 25,000

 

2015

 

23,000

 

2016

 

20,000

 

2017

 

20,000

 

2018

 

18,000