ABANDONMENT OF PATENT APPLICATIONS PENDING
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12 Months Ended |
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Dec. 31, 2014
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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. |
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- Definition
The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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