Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS (Tables)

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INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets

Intangible assets were comprised of the following:

 

    June 30, 2014
    Gross carrying amount   Accumulated amortization   Net carrying value
             
Customer list   $ 42,500     $ (37,000 )   $ 5,500  
Technology     779,700       (402,600 )     377,100  
Trade name     54,600       (47,500 )     7,100  
    $ 876,800     $ (487,100 )   $ 389,700  

 

    December 31, 2013
    Gross carrying amount   Accumulated amortization   Net carrying value
             
Customer list   $ 42,500     $ (33,900 )   $ 8,600  
Technology     725,700       (365,800 )     359,900  
Trade name     54,600       (43,600 )     11,000  
    $ 822,800     $ (443,300 )   $ 379,500  
Schedule of expected amortization expense

The estimated aggregate amortization expense for each of the next five years is as follows:

 

Remaining 2014   $ 43,900  
2015     79,800  
2016     74,000  
2017     74,000  
2018     38,300  
Thereafter     79,700  
    $ 389,700