Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.20.2
INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

 

At June 30, 2020, our intangible assets included patent costs and license costs totaling $152,092 and $275,243, respectively, less accumulated amortization of patent costs and license costs of $2,529 and $5,184, respectively. At December 31, 2019, our intangible assets include patent costs totaling $127,593 less accumulated amortization of patent costs of $1,249.

 

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

 

Year Ending December 31,   Estimated
Amortization
 
2020 (6 months)   $ 7,782  
2021   $ 15,564  
2022   $ 15,564  
2023   $ 15,564  
2024   $ 15,564