5. License Agreement (Details Narrative) - USD ($) |
1 Months Ended | 3 Months Ended | 12 Months Ended | ||
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Jan. 31, 2017 |
Mar. 31, 2017 |
Mar. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2009 |
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Estimated useful life of patents | 17 years | ||||
Amortization expense charged to cost and expenses | $ 1,470 | $ 1,471 | |||
Estimated amortization cost for each of the next five years | 5,900 | ||||
License maintenance fees, monthly | $ 25,000 | ||||
Running royalties description |
The running royalties are $100 per one megawatt of electronic nameplate capacity and $100 per three megawatt per hour for the application to thermal systems to which licensed products or licensed processes are sold by the Company, associate and sublicensees. |
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Sublicense income payment description | The Company is required to pay EERCF 35% of all sublicense income received by the Company, excluding royalties on sales by sublicensees. Sublicense income is payable by the Company within 30 day after the end of each calendar year to the licensor. This requirement ends at the time the Company pays for the assignment of the patents. | ||||
Term of running royalties | 30 days | ||||
Term of sublicense income | 30 days | ||||
EERCF [Member] | |||||
Royalty expense | $ 722,380 | $ 722,380 | |||
License costs | $ 100,000 | ||||
Issue of shares | 925,000 | ||||
Payable at option | $ 2,500,000 | ||||
EERCF [Member] | On April 24, 2017 [Member] | |||||
Issue of shares | 925,000 | ||||
Payable at option | $ 2,500,000 |
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- Definition Term of running royalties. No definition available.
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- Definition Term of sublicense income. No definition available.
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- Definition The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after adjustments of available-for-sale debt securities at cost, maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition Costs incurred and are directly related to generating license revenue. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Costs incurred and are directly related to generating maintenance revenues. Also includes cost of maintenance on client contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of expense related to royalty payments under a contractual arrangement such as payment for mineral and drilling rights and use of technology or intellectual property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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