Quarterly report pursuant to Section 13 or 15(d)

DEFINITE-LIFE INTANGIBLE ASSETS

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DEFINITE-LIFE INTANGIBLE ASSETS
3 Months Ended
Mar. 31, 2014
DEFINITE-LIFE INTANGIBLE ASSETS  
DEFINITE-LIFE INTANGIBLE ASSETS

NOTE 4 - DEFINITE-LIFE INTANGIBLE ASSETS

 

                The Company’s definite-life intangible assets are amortized, upon being placed in service, over the estimated useful lives of the assets, with no residual value. Amortization expense for the three months ended March 31, 2014 and 2013 were $- 0 - and $- 0 -, respectively.   As of March 31, 2013, the Company’s management decided to take an impairment charge of $6,234 representing the unamortized basis of the patents related to the creation and production of its product, ProAlgaZyme which is no longer producing revenue. The write off of the impairment loss has been included in General and Administrative Expenses on the Statement of Operations for the three months ended March 31, 2013.