Patents and Trademark

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Patents and Trademark

NOTE 4 – PATENTS AND TRADEMARK

The Company has filed eleven patent applications relating to the Company technology. Currently the Company has 7 U.S. patents, 4 U.S. applications pending for allowance, and 5 foreign applications pending for allowance. 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 three and six months ended June 30, 2015, the Company capitalized $100 and during the three and six months ended June 30, 2014, the Company capitalized $0 of patent costs. Amortization expense for patents was $4,203 and $8,406 for the three and six months ended June 30, 2015 and $3,277 and $6,554 for the three and six months ended June 30, 2014.

On March 30, 2015, the Company was advised by the United States Patent and Trademark Office (“USPTO”) that its petition for an unintentional delayed payment for an unpaid maintenance fee to reinstate its patent was granted by the USPTO. The patent, for a counterfeiting ink detection system, was granted on November 2, 2004.