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Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2019
Intangible Assets  
Summary of the components of intangible asset balances

 

 

 

 

 

 

 

 

 

As of December 31, 

 

    

2019

    

2018

Patents — in use

 

$

304,270

 

$

304,270

Patents — in process

 

 

120,581

 

 

73,164

Internally developed software — in use

 

 

867,569

 

 

867,569

Internally developed software — in process

 

 

80,721

 

 

13,723

Trademarks

 

 

26,133

 

 

23,017

 

 

 

1,399,274

 

 

1,281,743

Accumulated amortization

 

 

(539,187)

 

 

(449,224)

Total

 

$

860,087

 

$

832,519

 

Schedule of expected annual amortization expense related to intangible assets (excludes in process intangible assets)

 

 

 

 

 

2020

    

$

89,963

2021

 

$

89,963

2022

 

$

89,392

2023

 

$

88,740

2024

 

$

88,439