Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
6 Months Ended
Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 8 - Intangible Assets

 

Intangible assets as of June 30, 2015 and December 31, 2014 and the movements for the three months then ended are as follows:

 

          Distributor &        
    Patents &     Customer        
    Trademarks     Relationships     Totals  
Cost or Deemed Cost                        
At December 31, 2014   $ 3,851,495     $ 1,270,639     $ 5,122,134  
Additions     -       -       -  
Disposals     -       -       -  
At June 30, 2015   $ 3,851,495     $ 1,270,639     $ 5,122,134  
                         
Accumulated Amortization                        
At December 31, 2014   $ 1,675,430     $ 1,270,639     $ 2,946,069  
Amortization Charge     129,286       -       129,286  
Disposals     -       -       -  
At June 30, 2015   $ 1,804,716     $ 1,270,639     $ 3,075,355  
                         
Net Book Value                        
At December 31, 2014   $ 2,176,065     $ -     $ 2,176,065  
At June 30, 2015   $ 2,046,779     $ -     $ 2,046,779  

 

Amortization expense was $64,643 and $129,286 for the three and six months ended June 30, 2015 and $64,643 and $129,286 for the three and six months ended June 30, 2014.