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Intangible Assets

12 Months Ended

Dec. 31, 2024

Intangible Assets

Intangible Assets

Note 5 – Intangible Assets

Intangible assets are comprised of the following as of December 31, 2024 and 2023:

		Estimated				Balance at												Balance at
		(Years) Life				December 31, 2023				Additions				Amortization				December 31, 2024
License agreement			17			$	901,929			$	-			$	(62,924	)		$	839,005
Patents			20				86,100				98,602				(7,113	)			177,589
Total						$	988,029			$	98,602			$	(70,037	)		$	1,016,594

		Estimated				Balance at												Balance at
		(Years) Life				December 31, 2022				Additions				Amortization				December 31, 2023
License agreement			17			$	964,965			$	-			$	(63,036	)		$	901,929
Patents			20				85,057				5,725				(4,682	)			86,100
Total						$	1,050,022			$	5,725			$	(67,718	)		$	988,029

Amortization expense for the year ended December 31, 2024 and  2023 was $70,037 and $67,718, respectively.

Estimated future amortization expense as of December 31, 2024:

Year Ending December 31,
2025		$	72,228
2026			72,228
2027			72,228
2028			72,228
Thereafter			727,682
Total		$	1,016,594

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

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-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-4

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-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481283/985-20-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/985-20/tableOfContent

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