Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.19.1
Intangible Assets
 3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
Note 4 – Intangible Assets
 
Intangible assets, net consisted of the following:
 
 
 
March 31,

2019
 
 
December 31,

2018
 
 
 
(unaudited)
 
 
 
 
Patents
 
$
855,327
 
 
$
824,004
 
Other intangible assets
 
 
732,175
 
 
 
732,175
 
 
 
 
1,587,502
 
 
 
1,556,179
 
Accumulated amortization
 
 
(176,239
)
 
 
(159,770
)
 
 
$
1,411,263
 
 
$
1,396,409
 
 
Amortization expense amounted to $16,469 and $15,950 for the three months ended March 31, 2019 and 2018, respectively. Amortization expense for the succeeding five years and thereafter is $49,543 (2019), $66,057 (2020-2023) and $717,148 (thereafter).
 
At March 31, 2019 and December 31, 2018, the Company had capitalized $380,344 and $354,427, respectively, for costs related to patents that have not been awarded.