Quarterly report pursuant to Section 13 or 15(d)

6. INTANGIBLE ASSETS

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6. INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2014
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, 2014 and December 31, 2013:

 

      2014        2013   
SUGARDOWN® technology and patent applications   $ 900,000     $ 900,000  
Less accumulated amortization     (251,786     (203,571 )
Intangible assets, net   $ 648,214     $ 696,429  

 

Amortization expense was $16,072 and $48,215 for the three and nine months ended September 30, 2014 and 2013, respectively.