Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v2.4.1.9
INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2014
Intangible Assets  
INTANGIBLE ASSETS

 

NOTE 5: INTANGIBLE ASSETS

 

At December 31, 2014, and 2013, intangibles for product formulations had a gross carrying amount of $1,763, and $1,763, accumulated amortization of $1,059, and $910, and a net amount of $704, and $853, 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, 2014, 2013, and 2012 was $149, $149 and $149, respectively. Estimated amortization expense for the five succeeding fiscal years and thereafter is as follows:

 

Year Ending December 31,

 

 

 

2014

 

$

149 

 

2015

 

91 

 

2016

 

91 

 

2017

 

91 

 

2018

 

91 

 

Thereafter

 

191 

 

Total

 

$

704