Intangible Assets
 12 Months Ended
Dec. 31, 2015
Intangible Assets  
Intangible Assets

 

4 — Intangible Assets

 

The following table summarizes the components of intangible asset balances:

 

 

 

As of December 31,

 

 

 

2015

 

2014

 

Patents — in use

 

$
168,383

 

$
238,548

 

Patents — in process

 
47,474

 
31,358

 

Internally developed software

 
148,967

 
148,967

 

 

 

 

 

 

 

 

 
364,824

 
418,873

 

Accumulated amortization

 
(189,311

)
(168,037

)

 

 

 

 

 

 

Total

 

$
175,513

 

$
250,836

 

 

 

 

 

 

 

 

 

 

Amortization expense of intangible assets was $36,006 and $38,499 in the years ended December 31, 2015 and 2014, respectively. During 2015, we recorded an impairment charge of $55,433 on patents related to certain of our IV sets. This charge is included in general and administrative expense in our Statements of Operations.

 

Expected annual amortization expense for the next five years related to intangible assets is as follows:

 

2016

 

$
18,016 

 

2017

 

$
10,538 

 

2018

 

$
10,538 

 

2019

 

$
10,538 

 

2020

 

$
10,538