Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Liabilities Other Than Goodwill (Tables)

v3.8.0.1
Intangible Assets and Liabilities Other Than Goodwill (Tables)
 3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
As of March 31, 2018 and December 31, 2017 the Company had the following amounts related to intangible assets and liabilities other than goodwill:
 
 
March 31, 2018
 
December 31, 2017
Intangible assets
 
Cost
 
Accumulated Amortization
 
Total
 
Cost
 
Accumulated Amortization
 
Total
Product certifications
 
$
651,639

 
$
(298,874
)
 
$
352,765

 
$
605,704

 
$
(285,341
)
 
$
320,363

Patents
 
844,309

 
(162,343
)
 
681,966

 
808,323

 
(154,972
)
 
653,351

Developed technology
 
240,000

 
(80,000
)
 
160,000

 
240,000

 
(76,000
)
 
164,000

Trademarks
 
20,540

 
—

 
20,540

 
19,540

 
—

 
19,540

In Process R&D
 
263,936

 
—

 
263,936

 
263,001

 
—

 
263,001

Favorable contract asset
 
1,561,739

 
(122,194
)
 
1,439,545

 
1,561,739

 
(85,536
)
 
1,476,203

 
 
$
3,611,770

 
$
(663,411
)
 
$
2,948,359

 
$
3,498,307

 
$
(601,849
)
 
$
2,896,458

 
 
 
 
 
 
 
 
 
 
 
 
 
Intangible liability
 
 
 
 
 
 
 
 
 
 
 
 
Unfavorable contract liability
 
$
8,341,922

 
$
(876,972
)
 
$
7,464,950

 
$
8,341,922

 
$
(612,255
)
 
$
7,729,667

Schedule of Future Amortization Expense
Aggregate future amortization over the next five years is estimated to be as follows:
Year 1
 
$
(628,543
)
Year 2
 
(517,196
)
Year 3
 
(524,276
)
Year 4
 
(535,463
)
Year 5
 
(494,180
)