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INTANGIBLE ASSETS (Tables)
9 Months Ended
Sep. 30, 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 September 30, 2014 and December 31, 2013:

 

   September 30, 2014
   Gross
Carrying
Amount
  Accumulated
Amortization
  Net
Amount
  Weighted-
Average
Remaining
Amortization
Period (yrs.)
Amortizing intangible assets:                     
   OPERA® software patent  $31,951   $(1,997)  $29,954    15 
   Development costs of                    
      corporate website   91,743    (91,743)   —      n/a 
   Approved hormone                    
      therapy drug                    
      candidate patents   387,806    (13,616)   374,190    18.25 
                     
Non-amortizing intangible                    
  assets:                     
   Hormone therapy drug                    
      candidate patents   340,059    —      340,059    n/a 
      (pending)                    
   Multiple trademarks for                    
      vitamins/supplements   97,538    —      97,538    n/a 
      Total  $949,097   $(107,356)  $841,741      

 

 

   December 31, 2013
   Gross
Carrying
Amount
  Accumulated
Amortization
  Net
Amount
  Weighted-
Average
Remaining
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 $5,625 and $3,255 for the three months ended September 30, 2014 and 2013, respectively and $17,196 and $9,764 for the nine months ended September 30, 2014 and 2013, respectively. Estimated amortization expense for the next five years is as follows:

 

Year Ending
December 31,
  Estimated
Amortization
2014 (3 months)   $5,625
2015   $22,500
2016   $22,500
2017        $22,500
2018   $22,500