PATENTS AND TRADEMARK

3 Months Ended

Mar. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

PATENTS AND TRADEMARK

NOTE 2 – PATENTS AND TRADEMARK

The Company has five issued patents and filed for three provisional patents for anti-counterfeiting technology. We also acquired the VerifyMe trademark. Accordingly, costs associated with the registration of these patents and legal defense have been capitalized and are amortized on a straight-line basis over the estimated lives of the patents (17 to 20 years). During the three months ended March 31, 2013 and 2012, the Company capitalized patent costs of $18,443 and $0. Amortization expense for patents was $5,733 and $2,768 for the three months ended March 31, 2013 and 2012. Future estimated annual amortization over the next five years is approximately $23,000 per year for the years ending December 31, 2013 through 2017.