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PATENTS AND TRADEMARKS
6 Months Ended
Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Patents and Trademark

NOTE 2 – PATENTS AND TRADEMARKS

 

The current granted patent portfolio consists of 12 granted U.S. patents and two pending patents applications. The Company has recently received notice that one of its core printing technology patents has been granted in the European Union and will issue in approximately eight designated countries. Management has also conducted a review of its intellectual patent portfolio and determined that several of the applications, even if issued, were not central to the pursuit of the Company’s anti-counterfeiting and diversion business and thus not cost effective and would not continue to be pursued. Accordingly, costs associated with the registration and legal defense of these patents have been capitalized and are amortized on a straight-line basis over the estimated lives of the patents which were determined to be 17 to 19 years.   During the six months ended June 30, 2018 and 2017, the Company capitalized $825 and $0 of patent costs and trademarks. Amortization expense for patents and trademarks was $5,860 and $8,543 for the three months ended June 30, 2018 and 2017 and 10,894 and 6,331 for the six months ended June 30, 2018 and 2017.