Quarterly report pursuant to sections 13 or 15(d)

6. INTANGIBLE ASSETS

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6. INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2013
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, 2013 and December 31, 2012: 

 

      2013        2012   
SUGARDOWN® technology and provisional patents   $ 900,000     $ 900,000  
Less accumulated amortization     (187,500)       (139,286 )
Intangible assets, net   $ 712,500     $ 760,714  

 

Amortization expense was $16,071 and $48,213 for the three and nine months ended September 30, 2013 and 2012, respectively.