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PATENTS

9 Months Ended

Sep. 30, 2024

NOTE C – PATENTS

The Company’s intangible assets at September 30, 2024, include patents with estimated remaining economic useful lives ranging from 9 to 15 years. For all periods presented, all of the Company’s patents were subject to amortization. The gross carrying amounts and accumulated amortization related to acquired intangible assets as of September 30, 2024 and December 31, 2023 were as follows:


	September 30, 2024			December 31, 2023

Gross carrying amount – patents	$	8,473,000		$	8,473,000
Accumulated amortization – patents		(7,237,000	)		(7,147,000	)
Patents, net	$	1,236,000		$	1,326,000

Amortization expense for the three months ended September 30, 2024 and 2023 was $30,000 and $71,000, respectively. Amortization expense for the nine months ended September 30, 2024 and 2023 was $90,000 and $236,000, respectively. Future amortization of intangible assets for the next five years and thereafter is as follows:


For the Years Ended December 31,
2024 – remaining	$	30,000
2025		120,000
2026		120,000
2027		119,000
2028		116,000
Thereafter		731,000
Total	$	1,236,000

The expiration dates of patents within the Company’s M2M/IoT Patent Portfolio range from September 2033 to May 2034. The expiration dates within the Company’s HFT Patent Portfolio range from October 2039 to February 2040. All of the patents within the Company’s Mirror Worlds Patent Portfolio, Cox Patent Portfolio and the Remote Power Patent have expired.