Basis of Presentation and Summary of Significant Accounting Policies: Intangible Assets, Policy (Policies)
|12 Months Ended|
Dec. 31, 2015
|Intangible Assets, Policy||
Intangible Assets - Intangible assets consisted of developed technology acquired as part of an acquisition, which was deemed in-process research and development upon acquisition. During development, in-process research and development is not subject to amortization and is tested for impairment. In October 2012, the in-process research and development was reclassified as developed technology. The Companys developed technology was amortized over its estimated useful life of seven years. Based on the Companys financial position and substantial doubt about the Companys ability to continue as a going concern, the Company has chosen to estimate future cash flows at zero. The Company recognized an impairment of $1,517,859 during the second quarter of 2015.
Disclosure of accounting policy for finite-lived intangible assets. This accounting policy also might address: (1) the amortization method used; (2) the useful lives of such assets; and (3) how the entity assesses and measures impairment of such assets.
Reference 1: http://www.xbrl.org/2003/role/presentationRef