Intangible Assets

12 Months Ended

Dec. 31, 2017

Intangible Assets [Abstract]

Intangible Assets

6. Intangible Assets

As of December 31, 2017 and 2016, the Company had total intangible assets of $3,143,291 and $3,221,069, respectively. Accumulated amortization at December 31, 2017 and 2016 was $2,983,821 and $2,784,500, respectively.  Amortization expense for the years 2017 and 2016 was $199,321 and $199,320, respectively, as determined under the straight-line method. The estimated future amortization of intangible assets is $65,988 in 2018, $65,988 in 2019 and $27,495 through May 2020. During the fourth quarter of 2017, the Company also recognized impairment charges of $77,778 in research and development expense for certain intellectual property rights relating to the Company’s Niobe ES system.  The impairment is the result of an analysis that indicated it was probable the undiscounted future cash flows produced by the intellectual property would not exceed its book value during the remaining six months of its useful life.