| Intangible Assets |
Note 8 - Intangible Assets
Intangible assets as of March
31, 2017 and December 31, 2016 and the movements for the periods then ended are as follows:
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Distributor & |
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Patents & |
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Customer |
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Trademarks |
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Relationships |
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Totals |
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| Cost or Deemed Cost |
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|
|
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|
|
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| At December 31, 2016 |
|
$ |
2,626,996 |
|
|
$ |
1,270,639 |
|
|
$ |
3,897,635 |
|
| Additions |
|
|
- |
|
|
|
- |
|
|
|
- |
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| Disposals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| At March 31, 2017 |
|
$ |
2,626,996 |
|
|
$ |
1,270,639 |
|
|
$ |
3,897,635 |
|
| |
|
|
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| Accumulated Amortization |
|
|
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|
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| At December 31, 2016 |
|
$ |
1,325,221 |
|
|
$ |
1,270,639 |
|
|
$ |
2,595,860 |
|
| Amortization Charge |
|
|
42,777 |
|
|
|
- |
|
|
|
42,777 |
|
| Disposals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| At March 31, 2017 |
|
$ |
1,367,998 |
|
|
$ |
1,270,639 |
|
|
$ |
2,638,637 |
|
| |
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| Net Book Value |
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|
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| At December 31, 2016 |
|
$ |
1,301,775 |
|
|
$ |
- |
|
|
$ |
1,301,775 |
|
| At March 31, 2017 |
|
$ |
1,258,998 |
|
|
$ |
- |
|
|
$ |
1,258,998 |
|
During the three months ended
March 31, 2017 and 2016 amortization expense was $42,777 and $42,777.
The estimated aggregate amortization
expense for each of the five succeeding fiscal years is as follows:
| Period |
|
|
Amount |
|
| |
2017 |
|
|
$ |
171,108 |
|
| |
2018 |
|
|
$ |
171,108 |
|
| |
2019 |
|
|
$ |
171,108 |
|
| |
2020 |
|
|
$ |
171,108 |
|
| |
2021 |
|
|
$ |
171,108 |
|
|