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INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2014
INTANGIBLE ASSETS  
Schedule of components of intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

December 31, 2014

 

 

    

Gross Carrying

    

Accumulated

    

Gross Carrying

    

Accumulated

 

 

 

Amount

 

Amortization

 

Amount

 

Amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortized intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Patents

 

$

410,053

 

$

(81,248)

 

$

402,789

 

$

(62,676)

 

License

 

 

50,000

 

 

(42,709)

 

 

50,000

 

 

(39,584)

 

Non-compete agreements

 

 

 —

 

 

 —

 

 

100,000

 

 

(96,658)

 

 

 

$

460,053

 

$

(123,957)

 

$

552,789

 

$

(198,918)

 

 

 

 

 

 

 

 

 

 

 

 

    

2015

    

2014

 

Aggregate amortization expense:

 

 

 

 

 

 

 

For the years ended December 31

 

$

25,040

 

$

25,775

 

 

Schedule of estimated amortization expense

 

 

 

 

 

2016

    

$

24,000

 

2017

 

 

24,000

 

2018

 

 

22,000

 

2019

 

 

20,000

 

2020

 

 

20,000