Note 4 – Intangible Assets

Intangible assets, net consisted of the following:

Amortization expense amounted to $23,110 and $68,456 for the three and nine months ended September 30, 2020, respectively, and $21,554 and $57,563 for the three and nine months ended September 30, 2019, respectively. Amortization expense for the succeeding five years and thereafter is $23,179 (2020),  $92,714 (2021-2024) and $934,447 (thereafter).

At September 30, 2020 and December 31, 2019, the Company had capitalized $255,041 and $335,224, respectively, for costs related to patents that have not been awarded.