Quarterly report pursuant to sections 13 or 15(d)

6. INTANGIBLE ASSETS

v2.4.0.6
6. INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
NOTE 6 - INTANGIBLE ASSETS

 

The SUGARDOWN® technology and provisional patents 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 September 30, 2012 and December 31, 2011:

 

 

    2012     2011  
SUGARDOWN® technology and provisional patents   $ 900,000     $ 900,000  
Less accumulated amortization     (123,214 )     (75,000 )
Intangible assets, net   $ 776,786     $ 825,000  

 

 

Amortization expense was $16,071 and $48,213 for each of the three and nine months ended September 30, 2012 and 2011, respectively.