Annual report pursuant to Section 13 and 15(d)

ABANDONMENT OF PATENT APPLICATIONS PENDING

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ABANDONMENT OF PATENT APPLICATIONS PENDING
12 Months Ended
Dec. 31, 2014
ABANDONMENT OF PATENT APPLICATIONS PENDING  
ABANDONMENT OF PATENT APPLICATIONS PENDING

NOTE 5 – ABANDOMENT OF PATENT APPLICATIONS PENDING

 

As of December 31, 2014, the Company evaluated the circumstances related to the four Patent Applications Pending relating to the acquisition of asset of Wellness Indicators in August 2013.  The Company has filed / drafted an additional eight patents applications around the intellectual property acquired.  The Company has determined that the new patents applications redefine and protect its intellectual property better than the original purchased patent applications.  As such, the Company has abandoned the patent applications purchased and recorded a loss on abandonment of $1,391,281 for the year ended December 31, 2014.