Intangible Assets |
Note 6 - Intangible Assets
Intangible assets as of June 30, 2014 and December 31, 2013 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, 2013 | | | 3,851,494 | | | 1,270,639 | | | 5,122,133 | | Additions | | | - | | | - | | | - | | Disposals | | | - | | | - | | | - | | At June 30, 2014 | | | 3,851,494 | | | 1,270,639 | | | 5,122,133 | | | | | | | | | | | | | Accumulated Amortization | | | | | | | | | | | At December 31, 2013 | | | 1,416,857 | | | 1,270,639 | | | 2,687,496 | | Amortization Charge | | | 129,287 | | | - | | | 129,287 | | Disposals | | | - | | | - | | | - | | At June 30, 2014 | | | 1,546,144 | | | 1,270,639 | | | 2,816,783 | | | | | | | | | | | | | Net Book Value | | | | | | | | | | | At December 31, 2013 | | | 2,434,637 | | | - | | | 2,434,637 | | At June 30, 2014 | | $ | 2,305,350 | | $ | - | | $ | 2,305,350 | | | | Amortization expense was $64,643 and $129,287 for the three and six months ended June 30, 2014 and $64,643 and $129,286 for the three and six months ended June 30, 2013. |
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