Quarterly report pursuant to Section 13 or 15(d)

Patents

v3.7.0.1
Patents
9 Months Ended
Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Patents
Note 4 – Patents
 
The following table sets forth patents:
 
 
 
September 30, 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
 
$
-
 
$
1,400,000
 
$
-
 
$
-
 
$
-
 
17.45
 
The patents were acquired with the September 30, 2016 reverse acquisition (see Note 2), therefore amortization expense is not reflected in either the three and nine months periods ended September 30, 2016. Amortization expense for the next five fiscal years and thereafter is expected to be as approximately $20,000 for the three months ended December 31, 2016 and approximately $80,000 annually thereafter.