NOTE 5 – INTANGIBLE ASSETS

On March 31, 2021, our intangible assets included patent costs totaling $124,532 (of which $91,781 represents patent pending costs which are not subject to amortization) less accumulated amortization of patent costs of $10,511 and license costs totaling $241,909 less accumulated amortization of license costs of $23,328. On December 31, 2020, our intangible assets included patent costs totaling $158,710 (of which $133,112 represents patent pending costs which are not subject to amortization) less accumulated amortization of patent costs of $3,809 and license costs totaling $241,909 less accumulated amortization of license costs of $17,280. Amortization expense for the three months ended March 31, 2021 and 2020 was $12,750 and $640, respectively.

Estimated amortization expense for the next five years for the patent and license costs currently being amortized is as follows: