Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets

Intangible assets were comprised of the following:

		December 31, 2014
		Gross carrying amount				Accumulated amortization				Net carrying value

Customer list		$	42,500			$	(40,000	)		$	2,500
Technology			805,700				(440,000	)			365,700
Trade name			54,600				(51,400	)			3,200

		$	902,800			$	(531,400	)		$	371,400

		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:

2015		$	80,200
2016			74,400
2017			74,400
2018			38,700
2019			10,500
Thereafter			93,200
		$	371,400