Annual report pursuant to Section 13 and 15(d)

Patents

v3.7.0.1
Patents
12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Patents
Note 4 – Patents
 
The following table sets forth patents:
 
 
 
December 31, 2016
 
December 31, 2015
 
 
 
 
Gross
 
 
 
 
 
Gross
 
 
 
 
 
 
 
 
Carrying
 
Accumulated
 
Net Book
 
Carrying
 
Accumulated
 
Net Book
 
Useful Life
 
 
 
Amount
 
Amortization
 
Value
 
Amount
 
Amortization
 
Value
 
In Years
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Patents
 
$
1,400,000
 
$
(20,057)
 
$
1,379,943
 
$
-
 
$
-
 
$
-
 
 
17.45
 
 
The patents were acquired with the September 30, 2016 reverse acquisition (see Note 2), therefore amortization expense is reflected for the three-month period ended December 31, 2016. Amortization expense for the next five fiscal years and thereafter is expected to be approximately $80,000 annually through the year ended December 31, 2034.