Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets

Intangible assets were comprised of the following:

		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

		December 31, 2012
		Gross carrying amount				Accumulated amortization				Net carrying value

Customer list		$	42,500			$	(27,800	)		$	14,700
Technology			712,100				(294,700	)			417,400
Trade name			54,600				(35,800	)			18,800

		$	809,200			$	(358,300	)		$	450,900

Schedule of expected amortization expense

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

2014			$	85,100
2015				77,000
2016				71,200
2017				71,200
2018				35,500
Thereafter				39,500
			$	379,500