VolitionRx Ltd Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

6 Months Ended

Jun. 30, 2013

The Company’s intangible assets consist of intellectual property, principally patents, acquired in the acquisition of ValiBio SA. The patents are being amortized over their remaining lives, which are 10 years and 18 years.

					December 31,
					2012
			Accumulated		Net Carrying
	Cost		Amortization		Value
	$		$		$

Patents		1,666,346		236,108		1,430,238

		1,666,346		236,108		1,430,238

					June 30,
					2013
			Accumulated		Net Carrying
	Cost		Amortization		Value
	$		$		$

Patents		1,648,144		289,518		1,358,626

		1,648,144		289,518		1,358,626

During the six month period ended June 30, 2013, and the year ended December 31, 2012, the Company recognized $56,942 and $112,056 in amortization expense respectively.

The Company amortizes the long-lived asset on a straight line basis with terms ranging from 13 to 20 years. The annual estimated amortization schedule over the next five years is as follows:

2013	$	56,942
2014	$	113,884
2015	$	113,884
2016	$	113,884
2017	$	113,884

The Company periodically reviews its long lived assets to ensure that their carrying value does not exceed their fair market value.