Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

v3.3.1.900
Intangible Assets, Net
 12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

(5) Intangible Assets, net

 

Intangible assets as of December 31, 2015 reflect the purchase price attributable to patents in connection with the 1998 acquisition of BioSeq, Inc. and the PCT business. Acquired PCT patents were being amortized to expense on a straight-line basis at the rate of $48,632 per year over their estimated remaining useful lives of approximately 6 years. Intangible assets at December 31, 2015 and 2014 consisted of the following:

 

    2015     2014  
PCT Patents   $ 778,156     $ 778,156  
Less accumulated amortization     (778,156 )     (778,156 )
Net book value   $ -     $ -  

 

Amortization expense for the year ended December 31, 2014 was $36,498, at which time the assets were fully amortized.