Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

3.INTANGIBLE ASSETS

 

The SUGARDOWN® technology and patent applications are being amortized on a straight-line basis over their useful lives of 14 years. Goodwill is not amortized, but is evaluated annually for impairment.

 

Intangible assets consist of the following at June 30, 2017 and December 31, 2016:

 

    2017     2016  
SUGARDOWN® technology and patent applications   $ 900,000     $ 900,000  
Less accumulated amortization     (428,571 )     (396,429 )
Intangible assets, net   $ 471,429     $ 503,571  

 

Amortization expense was $16,071 and $16,071 for the three months ended June 30, 2017 and 2016, respectively. Amortization expense was $32,142 and $32,143 for the six months ended June 30, 2017 and 2016, respectively.