Note 3 – Intangible Assets

Intangible assets, net consisted of the following:

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Amortization expense amounted to $35,177 and $58,875 for the three and six months ended June 30, 2021, respectively, and $23,048 and $45,346 for the three and six months ended June 30, 2020, respectively. Amortization expense for the succeeding five years and thereafter is $72,605 (2021), $145,211 (2022-2025) and $1,136,734 (thereafter).

At June 30, 2021 and December 31, 2020, the Company had capitalized $258,354 and $270,000, respectively, for costs related to patents that have not been awarded.