Note 3 – Intangible Assets

Intangible assets, net consisted of the following:

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Amortization expense amounted to $36,642 and $95,517 for the three and nine months ended September 30, 2021, respectively, and $23,110 and $68,456 for the three and nine months ended September 30, 2020, respectively. Amortization expense for the succeeding five years and thereafter is $36,812 (2021), $147,249 (2022-2025) and $1,160,015 (thereafter).

At September 30, 2021 and December 31, 2020, the Company had capitalized $253,088 and $270,000, respectively, for costs related to patents that have not been awarded.