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INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 6 – 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.

 

Patents consists of the following:

         
   March 31, 2023   December 31, 2022 
         
Patents  $1,712,539   $1,606,064 
Less: Accumulated amortization   595,080    575,729 
           
 Intangible assets - net  $1,117,459   $1,030,335 

 

Amortization expense for the three months ending March 31, 2023 and 2022 was $19,351 and $22,079. There were no patent costs written off for the three months ending March 31, 2023 and 2022.