Impairment of Technology Licensing Agreements

12 Months Ended

Dec. 31, 2013

Impairment of Technology Licensing Agreements [Abstract]

Impairment of Technology Licensing Agreements [Text Block]

Note 4. Impairment of Technology Licensing Agreements

On September 29, 2010, GEM entered into a technology licensing agreement (the “PMP Agreement”) with PMP and Juan Carlos Bocos, the inventor of the patent pending water valve technology licensed under the PMP Agreement (the “Technology”).Effective as of February 23, 2012, we modified the PMP Agreement, including having the Technology assigned to the Company.

During 2012, we determined that the future expected undiscounted cash flows were insufficient for recoverability.  As such, we recorded a $549,120 charged related to the impairment of this asset. At December 31, 2013 and 2012, respectively, the intangible assets were valued at zero.