Quarterly report pursuant to sections 13 or 15(d)

6. INTANGIBLE ASSETS

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6. INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2013
Notes to Financial Statements  
NOTE 6 - INTANGIBLE ASSETS

5.           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 June 30, 2013 and December 31, 2012:

 

  2013     2012  
SUGARDOWN® technology and provisional patents   $ 900,000     $ 900,000  
Less accumulated amortization     (171,428 )     (139,286 )
Intangible assets, net   $ 728,572     $ 760,714  

 

Amortization expense was $16,071 and $32,143 for the three and six months ended June 30, 2013 and 2012, respectively.