Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
 3 Months Ended
Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

Intangible assets at December 31, 2014 and September 30, 2014, consist of:

 

    December 31,
2014		   September 30,
2014
License Rights   $ 17,712,991     $ 17,712,991  
Patent Costs     800,000       800,000  
      18,512,991       18,512,991  
Accumulated Amortization     (1,000,577 )     (702,591 )
Total Intangible Assets   $ 17,512,414     $ 17,810,400  

 

During the quarter ended December 31, 2014, the Company recognized $297,986 in amortization expense on the patent and license rights. The amortization expense has been included in research and development expense.