XML 31 R8.htm IDEA: XBRL DOCUMENT

INTANGIBLE AND OTHER ASSETS	3 Months Ended
Mar. 31, 2014
Notes to Financial Statements
INTANGIBLE AND OTHER ASSETS	Patents and trademarks are capitalized at their historical cost and are amortized over their estimated useful lives. As of March 31, 2014, patents and trademarks total $325,326, net of $257,574 of accumulated amortization. Amortization expense for the three months ended March 31, 2014 and 2013 was $8,510 and $7,804, respectively. License and distributor rights (“agreement”) were acquired by the Company in January 1999 and provide exclusive use distribution of polymers and polymer based products. The Company has a non-expiring term on the license and distribution rights. Accordingly, the Company annually assesses this license and distribution rights for impairment and has determined that no impairment write-down is considered necessary as of March 31, 2014.

INTANGIBLE AND OTHER ASSETS

3 Months Ended

Mar. 31, 2014

Patents and trademarks are capitalized at their historical cost and are amortized over their estimated useful lives. As of March 31, 2014, patents and trademarks total $325,326, net of $257,574 of accumulated amortization. Amortization expense for the three months ended March 31, 2014 and 2013 was $8,510 and $7,804, respectively.

License and distributor rights (“agreement”) were acquired by the Company in January 1999 and provide exclusive use distribution of polymers and polymer based products. The Company has a non-expiring term on the license and distribution rights. Accordingly, the Company annually assesses this license and distribution rights for impairment and has determined that no impairment write-down is considered necessary as of March 31, 2014.