Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v2.4.0.8
INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2013
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

NOTE 4: INTANGIBLE ASSETS

 

At December 31, 2013 and 2012, intangibles for product formulations had a gross carrying amount of $1,763 and $1,763, accumulated amortization of $910 and $761, and a net amount of $853 and $1,002, respectively. The estimated useful lives of the product formulations range from 9 to 15 years.

 

Amortization expense for intangible assets for the years ended December 31, 2013, 2012 and 2011 was $149, $149 and $152, respectively. Estimated amortization expense for the five succeeding fiscal years and thereafter is as follows:

 

Year Ending December 31,

 

 

 

2014

 

$

149

 

2015

 

149

 

2016

 

91

 

2017

 

91

 

2018

 

91

 

Thereafter

 

282

 

Total

 

$

853