Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

Intangible Assets, Net
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net



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


    December 31, 2015     December 31, 2014  
Patents   $ 432,820     $ 393,370  
Less accumulated amortization     (217,342 )     (200,272 )
      215,478       193,098  
Patents pending     209,019       226,420  
Total intangible assets, net   $ 424,497     $ 419,518  


Patents are amortized straight-line over a period of fifteen years. Amortization expense was $17,070 and $31,909, for the years ended December 31, 2015 and 2014, 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.


The Company owns 21 issued patents, including 14 in the United States and 7 others in China, India, Japan, and Hong Kong. These patents will expire during the years of 2023 to 2028, subject to any patent term extensions of the individual patent. The Company has 5 foreign patent applications pending in Europe, Canada, and Brazil.