Intangible Assets |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible Assets |
Note 6 — Intangible Assets Intangible assets, net consisted of the following:
At December 31, 2020 and 2019, the Company had capitalized approximately $270,000 and $335,224, respectively, for costs related to patents that have not been awarded. During the years ended December 31, 2020 and 2019, the Company wrote-off $20,660 and $14,707, respectively, in previously capitalized patent costs. Amortization expense amounted to $98,035 and $79,536 for the years ended December 31, 2020 and 2019, respectively. Amortization expense for the succeeding five years and thereafter is $94,532 (2021‑2025) and $826,244 (thereafter). |