Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
 9 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 9 - Intangible Assets

 

Intangible assets as of September 30, 2017 and December 31, 2016 and the movements for the periods then ended are as follows:

 

          Distributor &        
    Patents &     Customer        
    Trademarks     Relationships     Totals  
Cost or Deemed Cost                        
At December 31, 2016   $ 2,626,996     $ 1,270,639     $ 3,897,635  
Additions     -       -       -  
Disposals     -       -       -  
At September 30, 2017   $ 2,626,996     $ 1,270,639     $ 3,897,635  
                         
Accumulated Amortization                        
At December 31, 2016   $ 1,325,221     $ 1,270,639     $ 2,595,860  
Amortization Charge     128,331       -       128,331  
Disposals     -       -       -  
At September 30, 2017   $ 1,453,552     $ 1,270,639     $ 2,724,191  
                         
Net Book Value                        
At December 31, 2016   $ 1,301,775     $ -     $ 1,301,775  
At September 30, 2017   $ 1,173,444     $ -     $ 1,173,444  

 

Amortization expense totaled $42,777 and $128,331 during the three and nine months ended September 30, 2017 and $42,777 and $128,331 for the three and nine months ended September 30, 2016.

 

The estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows:

 

Period   Amount  
2017   $ 171,108  
2018   $ 171,108  
2019   $ 171,108  
2020   $ 171,108  
2021   $ 171,108