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Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2013
Intangible Assets

Intangible assets consisted of the following:

 

 

 

December 31, 2012  

March 31, 2013  

 

 

 

 

 

 

 

 

(Unaudited)

 

Average life
(years)  

Gross carrying
amount  

Accumulated
amortization  

Gross carrying
amount  

Accumulated
amortization  

 

 

 

 

 

 

Patents             

10

$              145,995             

$              61,302             

$              145,995             

$              66,991             

 

 

 

 

 

 

 

 

$              145,995             

$              61,302             

$              145,995             

$              66,991             

 

 

 

 

 

 

 

Future Amortization Expense

Future amortization expense associated with these intangible assets is as follow:

 

 

 

Nine months ending December 31, 2013

$              17,065             

Year ending December 31, 2014             

              22,754             

Year ending December 31, 2015             

              22,754             

Year ending December 31, 2016             

              16,431             

 

 

 

$              79,004