Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v2.4.0.6
INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2011
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

NOTE 5: INTANGIBLE ASSETS

 

At December 31, 2011 and 2010, intangibles for product formulations had a gross carrying amount of $1,763 and $1,763, accumulated amortization of $612 and $460, and a net amount of $1,151 and $1,303, 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, 2011, 2010 and 2009 was $152, $118 and $117, respectively. Estimated amortization expense for the five succeeding fiscal years and thereafter is as follows:

 

Year Ending December 31,

 

Estimated
Amortization
Expense

 

2012

 

$

149

 

2013

 

149

 

2014

 

149

 

2015

 

149

 

2016

 

91

 

Thereafter

 

464

 

Total

 

$

1,151