Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 4 – INTANGIBLE ASSETS

Intangible assets were comprised of the following:

	March 31, 2017
	Gross carrying amount		Accumulated amortization			Net carrying value
Goodwill	$	277,800		—		$	277,800
Customer list		42,500		(42,500	)		—
Technology		1,069,500		(634,400	)		435,100
Trade name		57,300		(57,300	)		—
	$	1,447,100	$	(734,200	)	$	712,900

	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

The estimated useful lives of the intangible assets range from seven to ten years. Amortization expense was $25,100 and $22,800 for the three months ended March 31, 2017 and 2016, respectively.