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Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Intangible Assets |
Intangible Assets | Note 5 – Intangible Assets Intangible assets, net, are comprised of the following at September 30, 2024 and December 31, 2023:
Name |  | Estimated Life |  | Balance at December 31, 2023 |  |  | Additions |  |  | Amortization |  |  | Balance at September 30, 2024 |
License agreement |  | 17 Years |  | $ | 901,929 |  |  | $ | - |  |  | $ | (47,196 | ) |  | $ | 854,733 |
Patents |  | 20 Years |  |  | 86,100 |  |  |  | 85,797 |  |  |  | (4,659 | ) |  |  | 167,238 |
Total |  |  |  | $ | 988,029 |  |  | $ | 85,797 |  |  | $ | (51,855 | ) |  | $ | 1,021,971 |
Amortization expense for the three months ended September 30, 2024 and 2023, was $17,812 and $16,925, respectively, which is included in general and administrative expenses on the condensed consolidated statements of operations. Amortization expense for the nine months ended September 30, 2024 and 2023, was $51,855 and $50,789. respectively, which is included in general and administrative expenses on the condensed consolidated statements of operations. Estimated future amortization expense for the years ended December 31:
|  | Amount |
2024 (remaining) |  | $ | 18,057 |
2025 |  |  | 72,228 |
2026 |  |  | 72,228 |
2027 |  |  | 72,228 |
2028 |  |  | 72,228 |
Thereafter |  |  | 715,002 |
Intangible assets, Net |  | $ | 1,021,971 |

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