Note 3 – Intangible Assets

Intangible assets, net consisted of the following:

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Amortization expense amounted to $37,098 and $73,910 for the three and six months ended June 30, 2022, respectively, and $35,177 and $58,875 for the three and six months ended June 30, 2021, respectively. Amortization expense for the succeeding five years and thereafter is $74,462 (remaining six months of 2022), $148,925 (2023-2026) and $1,028,786 (thereafter).

At June 30, 2022 and December 31, 2021, the Company had capitalized $338,464 and $306,640, respectively, for costs related to patents that have not been awarded.