Intangible assets

12 Months Ended

Dec. 31, 2011

Intangible assets [Abstract]

Intangible assets

5. Intangible assets

At December 31, 2011 and December 31, 2010, intangible assets and accumulated intangible assets were comprised of the following:

	2011		2010
Intangible assets	$	21,429,488	$	16,208,116
Accumulated amortization		(2,809,972)		(821,211	)
Intangible assets, net	$	18,619,516	$	15,386,905

BioTime amortizes its intangible assets over an estimated period of 10 years on a straight line basis.  BioTime recognized $1,991,200 in amortization expense of intangible assets during the year ended December 31, 2011.  The difference between the amortization expense recognized in the consolidated statement of operations and the increase in accumulated amortization of $1,988,761 per the consolidated balance sheet is entirely attributed to foreign currency rates.  In 2010, BioTime had accounted for intangible assets acquired upon acquisition of ESI and investment in Cell Cure Neurosciences in May and October of 2010, respectively at their respective functional currencies.  In 2011, however BioTime modified its procedure to account for these intangible assets and related amortization expense in the functional currency of the parent - U.S. dollar (“USD”).  Because BioTime has modified its procedure for accounting for intangible assets for the year ended December 31, 2011, this has resulted in differences in BioTime's research and development expenses, total expenses, net loss, foreign currency translation gain/(loss), and comprehensive loss for the year ended December 31, 2011 as compared to the year ended December 31, 2010.  The difference totaling $44,529 was recorded against research and development expenses in 2011.  BioTime does not believe that the effect of this difference in its financial statements for the year ended December 31, 2011 and 2010 have a material impact on those financial statements. See Note 11, 12, 13, and 14.

Amortization of intangible assets for periods subsequent to December 31, 2011 is as follows:

Year Ended	Amortization
December 31,	Expense
2012	$	2,142,949
2013		2,142,949
2014		2,142,949
2015		2,142,949
2016		2,142,949
Thereafter		7,904,771
Total	$	18,619,516