Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 4 - INTANGIBLE ASSETS

Intangible assets were comprised of the following:

	December 31, 2016
	Gross carrying amount		Accumulated amortization			Net carrying value

Goodwill	$	277,800		—		$	277,800
Customer list		42,500		(42,500	)		—
Technology		1,069,500		(609,300	)		460,200
Trade name		57,300		(57,300	)		—

	$	1,447,100	$	(709,100	)	$	738,000

	December 31, 2015
	Gross carrying amount		Accumulated amortization			Net carrying value

Goodwill	$	277,800		—		$	277,800
Customer list		42,500		(42,500	)		—
Technology		1,027,100		(518,300	)		508,800
Trade name		54,600		(54,600	)		—

	$	1,402,000	$	(615,400	)	$	786,600

The estimated useful lives of the intangible assets range from seven to ten years. Amortization expense, included in selling, general and administrative expenses in the accompanying consolidated statements of operations, was $93,700 and $84,100 for the years ended December 31, 2016 and 2015, respectively.