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Note 5 - Intangible Assets

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 5 - INTANGIBLE ASSETS

At December 31, 2020 and December 31, 2019, other intangible assets, net of accumulated amortization, consisted of customer relationships acquired in connection with the purchase of LiqTech Plastics A/S and patents on the Company’s products.

Intangible assets consisted of the following at December 31, 2020 and December 31, 2019:

		2020				2019
Customer relationships		$	544,770			$	494,315
Patent cost			204,731				135,683
			749,501				629,998
Less Accumulated amortization			(269,441	)			(141,282	)
Intangible assets, net		$	480,060			$	488,716

Expected future amortization expense for the years ended are as follows:

Year ending December 31,		Amortization Expenses
2021			117,488
2022			117,489
2023			117,488
2024			81,171
2025			8,535
Thereafter			37,889
		$	480,060

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- References

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- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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