Quarterly report pursuant to Section 13 or 15(d)

Other long-term assets (Tables)

v3.10.0.1
Other long-term assets (Tables)
9 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Other Long-Term Assets
Other long-term assets as of December 31, 2017 and September 30, 2018 consisted of the following (unaudited):
 
Cost:
 
September 30, 2018
(unaudited)
   
December 31, 2017
 
  Patents
 
$
1,092,681
   
$
1,059,832
 
  Goodwill
   
1,186,496
     
1,186,496
 
  Convertible note investment
   
200,000
     
200,000
 
Total
   
2,479,177
     
2,446,328
 
                 
Accumulated amortization:
               
  Patents
   
(594,011
)
   
(550,183
)
Total
   
(594,011
)
   
(550,183
)
                 
Net other long-term assets
 
$
1,885,166
   
$
1,896,145
 
 
Schedule of Carrying Amounts Related to Acquired Intangible Assets
The carrying amounts related to acquired intangible assets as of September 30, 2018 were as follows (unaudited):
 
   
September 30, 2018
 
Patents at January 1, 2018, net
 
$
509,649
 
Additions
   
32,849
 
Less: amortization expense
   
43,828
 
Patents at September 30, 2018, net
 
$
498,670
 
 
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
 
$
(492,183
)
2019
 
$
58,000
 
2020
 
$
58,000
 
2021
 
$
58,000
 
2022
 
$
1,146,845