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PATENTS
6 Months Ended
Jun. 30, 2012
Accounting Policies [Abstract]  
PATENTS

 

NOTE 3 – PATENTS

 

The Company has five issued patents for anti-counterfeiting technology. 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 years). Amortization expense for patents was $2,792 and $5,560 for the three and six months ended June 30, 2012, respectively. Amortization expense for patents was $2,715 and $5,431 for the three and six months ended June 30, 2011, respectively. Future estimated annual amortization for the remaining six months ending December 31, 2012 is $6,000. Future estimated annual amortization over the next five years is approximately $11,000 per year for the years ending December 31, 2013 through 2017.