Quarterly report pursuant to Section 13 or 15(d)

Other long-term assets (Tables)

v3.8.0.1
Other long-term assets (Tables)
3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Other Long-Term Assets
Other long-term assets as of March 31, 2018 consisted of the following (unaudited):
 
Cost:
 
Beginning Balance
December 31, 2017
   
Additions
   
Ending Balance
March 31, 2018
 
  Patents
 
$
1,059,832
   
$
24,074
   
$
1,083,906
 
  Goodwill
   
1,186,496
     
-
     
1,186,496
 
  Convertible note investment
   
200,000
     
-
     
200,000
 
Total
   
2,446,328
     
24,074
     
2,470,402
 
                         
Accumulated amortization:
                       
  Patents
   
(550,183
)
   
(14,610
)
   
(564,793
)
Total
   
(550,183
)
   
(14,610
)
   
(564,793
)
                         
Net other long-term assets
 
$
1,896,145
   
$
9,464
   
$
1,905,609
Schedule of Carrying Amounts Related to Acquired Intangible Assets
The carrying amounts related to acquired intangible assets as of March 31, 2018 were as follows (unaudited):
 
   
March 31, 2018
 
Patents at January 1, 2018, net
 
$
509,649
 
Additions
   
24,074
 
Less: amortization expense
   
14,610
 
Patents at March 31, 2018, net
 
$
519,113
Schedule of Total Estimated Amortization of Intangible Assets
The following table represents the total estimated amortization of intangible assets for the five succeeding years:
 
For the year ended December 31,
 
Estimated amortization expense
 
2018
 
$
43,390
 
2019
 
$
58,000
 
2020
 
$
58,000
 
2021
 
$
58,000
 
2022
 
$
46,479