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INTANGIBLE ASSETS (Tables)
3 Months Ended
Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets

The following table sets forth the gross carrying amount and accumulated amortization of our intangible assets as of March 31, 2014 and December 31, 2013:

 

   March 31, 2014  
  

 

Gross Carrying Amount

   

 

 

Accumulated Amortization

   

 

 

Net

Amount

    Weighted- Average Amortization Period (yrs.)  
Amortizing intangible assets:                    
                     
   OPERA® software patent  $31,951   $(999)  $30,952    15.5 
                     
   Development costs of                    
      corporate website   91,743    (91,743)   —      n/a 
                     
   Approved hormone                    
      therapy drug                    
      candidate patents   255,649    (3,364)   252,285    18.75 
                     
Non-amortizing intangible                    
  assets:                    
   Hormone therapy drug                    

candidate patents

(pending)

   412,406    —      412,406    n/a 
                     
   Multiple trademarks for                    
      vitamins/supplements   61,283    —      61,283    n/a 
      Total  $853,032   $(96,106)  $756,926      

 

   December 31, 2013
  

 

Gross
Carrying Amount

 

 

 

Accumulated Amortization

 

 

 

Net

Amount

  Weighted- Average Amortization Period (yrs.)
Amortizing intangible assets:                    
                     
   OPERA® software patent  $31,951   $(499)  $31,452    15.8 
                     
Development costs of corporate website   91,743    (89,661)   2,082    0.3 
                     
Non-amortizing intangible assets:                    

Hormone therapy drug candidate patents (pending)

   572,726    —      572,726    n/a 
                     
Multiple trademarks for vitamins/supplements   59,328    —      59,328    n/a 
      Total  $755,748   $(90,160)  $665,588      

 

Schedule of estimated amortization expense

Amortization expense was $5,946 and $3,254 for the three months ended March 31, 2014 and 2013, respectively. Estimated amortization expense for the next five years is as follows:

 

Year Ending
December 31,
 

Estimated

Amortization

 2014 (9 months)   $11,589 
 2015   $15,452 
 2016   $15,452 
 2017   $15,452 
 2018   $15,452