| Intangible Assets |
Note 7 - Intangible Assets
Intangible assets as of March
31, 2018 and December 31, 2017 and the movements for the periods then ended are as follows:
| |
|
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|
|
Distributor & |
|
|
|
|
| |
|
Patents & |
|
|
Customer |
|
|
|
|
| |
|
Trademarks |
|
|
Relationships |
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Totals |
|
| Cost or Deemed Cost |
|
|
|
|
|
|
|
|
|
|
|
|
| At December 31, 2017 |
|
$ |
2,626,996 |
|
|
$ |
1,270,639 |
|
|
$ |
3,897,635 |
|
| Additions |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Disposals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| At March 31, 2018 |
|
$ |
2,626,996 |
|
|
$ |
1,270,639 |
|
|
$ |
3,897,635 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulated Amortization |
|
|
|
|
|
|
|
|
|
|
|
|
| At December 31, 2017 |
|
$ |
1,496,329 |
|
|
$ |
1,270,639 |
|
|
$ |
2,766,968 |
|
| Amortization Charge |
|
|
42,777 |
|
|
|
- |
|
|
|
42,777 |
|
| Disposals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| At March 31, 2018 |
|
$ |
1,539,106 |
|
|
$ |
1,270,639 |
|
|
$ |
2,809,745 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
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| Net Book Value |
|
|
|
|
|
|
|
|
|
|
|
|
| At December 31, 2017 |
|
$ |
1,130,667 |
|
|
$ |
- |
|
|
$ |
1,130,667 |
|
| At March 31, 2018 |
|
$ |
1,087,890 |
|
|
$ |
- |
|
|
$ |
1,087,890 |
|
Amortization expense totaled $42,777 for
the three months ended March 31, 2018 and 2017.
The estimated aggregate amortization
expense for each of the five succeeding fiscal years is as follows:
| Period |
|
Amount |
|
| 2019 |
|
$ |
171,108 |
|
| 2020 |
|
|
149,298 |
|
| 2021 |
|
|
147,315 |
|
| 2022 |
|
|
147,315 |
|
| 2023 |
|
|
147,315 |
|
|