General form of registration statement for all companies including face-amount certificate companies

Intangible assets other than goodwill

Intangible assets other than goodwill

6 Months Ended

12 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible assets

Note 10 - Intangible assets other than goodwill

As of June 30, 2013 the Company has the following amounts related to intangible assets:

	Gross Carrying Amount		Accumulated Amortization
Patent costs	$	355,961	$	29,192
Product certifications		290,660		69,399
Developed technology		240,000		4,000
	$	886,621	$	102,591

The aggregate amortization expense of the Company's intangible assets for the six months ended June 30, 2013 and 2012 was $24,247 and $15,457, respectively.

Estimated future annual amortization expense related to the intangible assets is as follows:

2013	$	29,450
2014		94,640
2015		94,640
2016		94,640
2017		94,640
Thereafter		376,020
	$	784,030

Note 5 – Intangible assets

The Company capitalized $17,314 and $22,036 of product certification costs during the years ended December 31, 2012 and 2011, respectively. Also included in intangible assets are the costs incurred by the Company to acquire certain patents. These patents, once in service, will be amortized on a straight-line basis over the estimated economic life of the associated products, which range from approximately 7 to 10 years. The Company capitalized $146,981 and $16,712of patent-related costs during the years ended December 31, 2012 and 2011, respectively. Intangible assets at December 31, 2012 and 2011 consist of the following:

	Product Certifications		Patents		Total
Balance at December 31, 2012
Intangible assets	$	235,482	$	214,883	$	450,365
Less - accumulated amortization		(57,798)		(20,547)		(78,345)
	$	177,684	$	194,336	$	372,020
Balance at December 31, 2011
Intangible assets	$	218,168	$	67,902	$	286,070
Less - accumulated amortization		(38,254)		(6,195)		(44,449)
	$	179,914	$	61,707	$	241,621

Amortization expense was $33,896, $23,992, and $11,309 during the years ended December 31, 2012, 2011, and 2010, respectively. Estimated amortization expense at December 31 for each of the five succeeding years is as follows:

2013	$	39,879
2014		54,246
2015		54,246
2016		54,246
2017		54,246
Thereafter		115,157
	$	372,020