2012 Annual Report - Prometic - Life Science, Inc.
2012 Annual Report - Prometic - Life Science, Inc.
2012 Annual Report - Prometic - Life Science, Inc.
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
12. LICENSES AND PATENTS<br />
Licenses Patents Total<br />
$ $ $<br />
Cost<br />
Balance at January 1, 2011 3,831 3,118 6,949<br />
Additions - 655 655<br />
Impairment - (83) (83)<br />
Effect of foreign exchange differences 9 32 41<br />
Balance at December 31, 2011 3,840 3,722 7,562<br />
Additions - 420 420<br />
Impairment - (63) (63)<br />
Effect of foreign exchange differences 10 44 54<br />
Balance at December 31, <strong>2012</strong> 3,850 4,123 7,973<br />
Accumulated amortization and impairment<br />
Balance at January 1, 2011 2,228 585 2,813<br />
Amortization expense 231 205 436<br />
Impairment - (15) (15)<br />
Effect of foreign exchange differences 3 5 8<br />
Balance at December 31, 2011 2,462 780 3,242<br />
Amortization expense 231 247 478<br />
Impairment - (14) (14)<br />
Effect of foreign exchange differences 5 10 15<br />
Balance at December 31, <strong>2012</strong> 2,698 1,023 3,721<br />
Carrying amounts<br />
At December 31, 2011 1,378 2,942 4,320<br />
At December 31, <strong>2012</strong> 1,152 3,100 4,252<br />
During the ended December 31, <strong>2012</strong>, an amount of $49 was written off for patents ($68 for the year ended December 31, 2011) following its<br />
monthly impairment reviews, which was conducted in order to identify licenses and patents that are no longer used by the Company. The unpaid<br />
licenses and patents as at December 31, <strong>2012</strong> was $153 (nil for the year ended December 31, 2011).<br />
PROMETIC LIFE SCIENCES INC.<br />
38
Change language