Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

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Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2017
Intangible Assets Tables  
Patents amortized over their remaining lives

The Company’s intangible assets consist of intellectual property and patents, mainly acquired in the acquisition of Belgian Volition (formerly ValiBio SA). The patents and intellectual property are being amortized over the assets’ estimated useful lives, which range from 8 to 20 years.

 

                June 30,  
                2017  
          Accumulated     Net Carrying  
    Cost     Amortization     Value  
    $     $     $  
                   
Patents     1,164,515       565,376       599,139  
                         
      1,164,515       565,376       599,139  

 

                December 31,  
                2016  
          Accumulated     Net Carrying  
    Cost     Amortization     Value  
    $     $     $  
                   
Patents     1,085,133       482,940       602,193  
                         
      1,085,133       482,940       602,193  

Annual estimated amortization schedule

The Company amortizes the long-lived assets on a straight line basis with terms ranging from 8 to 20 years. The annual estimated amortization schedule over the next five years is as follows:

 

2017 - remaining    $ 44,428  
         
2018    $ 88,856  
         
2019    $ 88,856  
         
2020    $ 88,856  
         
2021    $ 88,856