Patents and Licensed Technologies

6 Months Ended

Jun. 30, 2011

Patents and Licensed Technologies

Patents and Licensed Technologies

Note 4

Patents and Licensed Technologies:

Set forth below is a detailed listing of patents and licensed technologies:

	June 30, 2011		December 31, 2010
	(unaudited)
Patents, owned and licensed, at gross costs of $8,033,409, net of accumulated amortization of $2,195,486 and $1,816,979, respectively.	$	5,837,923	$	6,216,430
Other licensed or developed technologies, at gross costs of $2,337,326, net of accumulated amortization of $1,823,156 and $1,740,228, respectively.		514,170		597,098
	$	6,352,093	$	6,813,528

Related amortization expense was $461,435 and $478,790 for the six months ended June 30, 2011 and 2010, respectively. Included in Patents is $7,400,000 in patents, patents pending and related know-how acquired in the Photo Therapeutics transaction. Included in Other Licensed and Developed Technologies, among other things, is $200,000 for the cost of developed technologies acquired from ProCyte.

On March 31, 2006, the Mount Sinai School of Medicine of New York University (“Mount Sinai”) granted the Company an exclusive license, effective April 1, 2006, to use Mount Sinai's patented methodology for utilization of ultraviolet laser light for the treatment of vitiligo. The licensed patent is US Patent No. 6,979,327, Treatment of Vitiligo. It was issued December 27, 2005, and the inventor is James M. Spencer, MD, a member of the Company's Scientific Advisory Board. The license is carried on the Company's books at $50,625 and $55,954, net at June 30, 2011 and December 31, 2010, respectively. Amortization of this intangible is on a straight-line basis over 10 years, which began in April 2006. The Company is also obligated to pay Mount Sinai a royalty on a combined base of domestic sales of XTRAC treatment codes used for psoriasis as well as for vitiligo. This technology is for the laser treatment of vitiligo and is included in Other Licensed and Developed Technologies.