Quarterly report pursuant to Section 13 or 15(d)

Other long-term assets

Other long-term assets
9 Months Ended
Sep. 30, 2014
Other long-term assets [Abstract]  
Other long-term assets

Note 3.  Other long-term assets:


Other long-term assets consisted of the following:



September 30,


December 31,



Patents, trademarks and applications, net of accumulated amortization of $484,447 and $422,261, respectively

  $ 1,279,957     $ 1,214,797  


    387,239       387,239  


     $ 1,667,196      $ 1,612,160  


Amortization expense totaled approximately $21,000 and $19,000, and $62,000 and $57,000 for three and nine month periods ended September 30, 2014 and 2013, respectively.


The Company capitalizes legal costs and filing fees associated with obtaining patents on its new discoveries. Once the patents have been issued, the Company amortizes these costs over the shorter of the legal life of the patent or its estimated economic life using the straight-line method. Based upon the current status of the above intangible assets, the aggregate amortization expense is estimated to be approximately $85,000 for each of the next five fiscal years. The Company tests intangible assets with finite lives upon significant changes in the Company's business environment. The testing resulted in no patent impairment charges in the 2014 periods, and approximately zero and $3,000 of total impairment charges during the three and nine month periods ended September 30, 2013.