Annual report pursuant to section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

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INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2012
Notes to Financial Statements  
SCHEDULE OF INTELLECTUAL PROPERTY AND INTANGIBLE ASSETS

    2012   2011
Patents   $ 13,615,967     $ 13,615,967  
Customer relationships     3,400,000       3,400,000  
Trademarks     2,740,000       2,740,000  
Non-compete agreements     660,000       660,000  
Other intangible assets     150,000       150,000  
      20,565,967       20,565,967  
Less: accumulated amortization     (2,015,551 )     (454,204 )
Intangible assets, net   $ 18,550,416     $ 20,111,763  

SCHEDULE OF ASSET PURCHASE AGREEMENT ASSETS

    Fair Value
Patents   $ 13,259,000  
Customer relationships     3,400,000  
Trademarks     2,740,000  
Goodwill     1,091,000  
Non-compete agreement     660,000  
Total   $ 21,150,000