Annual report pursuant to Section 13 and 15(d)

PATENTS

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PATENTS
12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
NOTE C - PATENTS

The Company's intangible assets at December 31, 2016 include patents with estimated remaining economic useful lives ranging from 3.5 to 4.75 years.  For all periods presented, all of the Company's patents were subject to amortization.  The gross carrying amounts and accumulated amortization related to acquired intangible assets as of December 31, 2016 and 2015 are as follows:

 

    2016     2015  
                 
Gross carrying amount – patents   $ 6,427,000     $ 6,385,000  
Accumulated amortization – patents     (5,196,000 )     (4,383,000 )
Patents, net   $ 1,231,000     $ 2,002,000  
                 



Amortization expense for the years ended December 31, 2016 and 2015 was $813,000 and $1,655,000, respectively.  Future amortization of current intangible assets, net is as follows:

 

2017   $ 200,000  
2018   $ 200,000  
2019   $ 193,000  
2020   $ 193,000  
2021 and thereafter   $ 445,000  
Total   $ 1,231,000  
         

 

The Company's Remote Power Patent expires in March 2020. The expiration dates of the patents within the Company's Mirror Worlds Patent Portfolio range from August 2017 to February 2020 (six of the patents in our Mirror Worlds Patent Portfolio expired as of December 31, 2016). The expiration dates of the patents within the Cox Patent Portfolio range from September 2021 to November 2023 and the expiration date of patents within the Company's QoS patents is June 2019.