Intangible Assets

9 Months Ended

Sep. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

Note 10 —   Intangible Assets

In addition to the lunasin technology license described in Note 9 to these consolidated financial statements, the Company also has intangible assets relating to its 2009 purchase of a Reliv distributorship. Total intangible assets are as follows:

	Gross Carrying Amount				Accumulated Amortization
	September 30		December 31		September 30		December 31
Intangible Assets	2013		2012		2013		2012
Distributorship and related agreements	$	2,060,000	$	2,060,000	$	731,872	$	616,365
Lunasin technology license		1,954,661		-		19,353		-
	$	4,014,661	$	2,060,000	$	751,225	$	616,365

Amortization expense for intangible assets totaled $57,855 and $38,502 for the three months ended September 30, 2013 and 2012, respectively. Amortization expense for intangible assets totaled $134,860 and $115,507 for the nine months ended September 30, 2013 and 2012, respectively. Amortization expense is presented in Selling, General and Administrative in the accompanying condensed consolidated statements of net income and comprehensive income. Amortization expense for intangible assets for the fourth quarter of 2013 is estimated to be $68,000 and for the next five fiscal years is estimated to be:

	Intangible
	Amorization
Fiscal year ending December 31:
2014	$	270,000
2015		270,000
2016		255,000
2017		226,000
2018		226,000