Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS (Tables)

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INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets

Intangible assets consisted of the following:

 

    June 30,
2017
    December 31,
2016
 
Patents   $ 639,000     $ 639,000  
Software     113,540       113,540  
Total intangible assets     752,540       752,540  
Less: Accumulated amortization     (166,857 )     (112,100 )
Total intangible assets, net   $ 585,683     $ 640,440
Schedule of future amortization expense

Future estimated amortization expenses as of June 30, 2017 for the five succeeding years is as follows:

 

For the years ending December 31,   Amounts  
2017 (includes the remainder of the year)   $ 48,282  
2018     73,433  
2019     70,285  
2020     70,285  
2021     70,285  
Thereafter     253,113  
    $ 585,683