Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
 9 Months Ended
Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]
Note 6 – Intangible Assets
 
Intangible assets, net consisted of the following:
 
 
 
September 30,
 
December 31,
 
 
 
2015
 
2014
 
 
 
(unaudited)
 
 
 
Patents
 
$
1,243,564
 
$
1,040,219
 
Other intangible assets
 
 
89,312
 
 
-
 
 
 
 
1,332,876
 
 
1,040,219
 
Accumulated amortization
 
 
(44,866)
 
 
(27,255)
 
 
 
$
1,288,010
 
$
1,012,964
 
 
During the three months ended September 30, 2015, the Company acquired a defensive intangible asset for $89,312, inclusive of acquisition costs, in order to provide potentially incremental intellectual property protection in commercially important global markets. For the nine months ended September 30, 2015, capitalized patent costs of $109,788 were written off as the Company chose to discontinue pursuit of the associated patents. The expense associated with the write-offs is included in general and administrative expenses.