Note 5 - Intangible Assets |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets Disclosure [Text Block] |
Note 5 — Intangible Assets
Intangible assets, net consisted of the following:
At December 31, 2024 and 2023, the Company had capitalized $541,081 and $460,890, respectively, for costs related to patents that have not been awarded. Costs related to patents that have not been awarded are not amortized until patent issuance. For the year ended December 31, 2024, the Company wrote-off a capitalized patent of $62,073 included in general and administrative expenses in the accompanying statement of operations.
At December 31, 2024 and 2023, the Company had capitalized $22,767 and $15,794, respectively, for costs related to trademarks. Costs related to indefinite life trademarks are not amortized but are subject to evaluation for potential impairment.
Amortization expense amounted to $215,157 and $190,043 for the years ended December 31, 2024 and 2023, respectively. Amortization expense for the succeeding five years and thereafter is $218,053 (2025‑2029) and $957,885 (thereafter). |
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