Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v3.19.1
INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS
5. INTANGIBLE ASSETS

 

The SUGARDOWN® technology and patent applications, which were obtained through the acquisition of BTI in 2010, are being amortized on a straight-line basis over their estimated useful lives of 14 years.

 

Intangible assets consist of the following as of December 31:

 

    2018     2017  
SUGARDOWN® technology and patent applications   $ 1,134,122     $ 900,000  
Less accumulated amortization     (618,910 )     (460,714 )
Intangible assets, net   $ 515,212     $ 439,286  

 

Amortization expense for each of the years ended December 31, 2018 and 2017 was $158,196 and $64,285, respectively.