INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2013

INTANGIBLE ASSETS [Abstract]

INTANGIBLE ASSETS

NOTE 8. INTANGIBLE ASSETS

Intangible assets are comprised of patents acquired in October, 2005.  Intangible assets, net consisted of the following at September 30, 2013 and December 31, 2012:

Intangible assets	September 30, 2013			December 31, 2012
Patent - Amlexanox (Aphthasol®)	$	2,090,000		$	2,090,000
Patent - Amlexanox (OraDisc™ A)		6,873,080			6,873,080
Patent - OraDisc™		73,000			73,000
Patent - Hydrogel nanoparticle aggregate		589,858			589,858
		9,625,938			9,625,938
Less: accumulated amortization		( 5,835,338	)		(5,479,953	)
Intangible assets, net	$	3,790,600		$	4,145,985

Amortization expense for intangible assets was $119,763 and $119,763 for the three months ended September 30, 2013 and 2012, respectively, and was $355,385 and $356,687 for the nine months ended September 30, 2013 and 2012, respectively.

The future aggregate amortization expense for intangible assets, remaining as of September 30, 2013, is as follows:

Calendar Years	Future Amortization Expense
2013 (Three months)	$	119,763
2014		475,148
2015		475,148
2016		476,450
2017		475,148
2018 & Beyond		1,768,943
Total	$	3,790,600