Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

Intangible Assets, Net

6 Months Ended

Jun. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5 – INTANGIBLE ASSETS, net

Intangible assets, net, consists of the following as of:

	June 30, 2014			December 31, 2013
Patents	$	602,255		$	593,120
Less accumulated amortization		(183,666	)		(168,363	)
Total intangible assets, net	$	418,589		$	424,757

Patents are amortized straight-line over a period of fifteen years. Amortization expense was $9,526 and $15,303, for the three and six-month periods ended June 30, 2014, respectively. Amortization expense was $7,597 and $15,303, for the three and six-month periods ended June 30, 2013, respectively.

The Company has capitalized costs for several patents that are still pending. In those instances, the Company has not recorded any amortization. The Company will commence amortization when these patents are approved.