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INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5 – INTANGIBLE ASSETS

This represents legal fees and patent fees associated with the prosecution of patent applications. The Company has recorded amortization expense on patents granted, which are amortized over the remaining legal life. Maintenance patent fees are paid to a government patent authority to maintain a granted patent in force. Some countries require the payment of maintenance fees for pending patent applications. Maintenance fees paid after a patent is granted are expensed, as these are considered ongoing costs to “maintain a patent”. Maintenance fees paid prior to a patent grant date are capitalized to patent costs, as these are considered “patent application costs”. No amortization expense has been recorded on the remaining patent applications since patents have yet to be granted.

On June 11, 2018, the Company purchased patents for $315,000.

Intangible assets consist of the following:


	December 31, 2019		December 31, 2018

Patents	$	1,267,077	$	1,184,882
Less: Accumulated amortization		327,596		246,643

	$	939,481	$	938,239

Amortization expense for the years ending December 31, 2019 and 2018 was $80,953 and $65,015. There were no patent costs written off for the years ended December 31, 2019 and December 31, 2018.