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5. INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
NOTE 5. INTANGIBLE ASSETS

Intangible assets consist of patents and trademarks related to our Binary Ionization Technology. We amortize the patents over the estimated remaining lives of the related patents. The trademarks have an indefinite life. Amortization expense was $92,377 and $184,754 for the three and six months ended June 30, 2017 and 2016, respectively.

 

  Definite life intangible assets consist of the following:

 

   

June 30,

2017

(Unaudited)

    

December 31,

2016

  
             
Intellectual Property and Patents   $ 2,848,300     $ 2,848,300  
Less: Accumulated Amortization     1,555,014       1,370,260  
Intangible Assets, net   $ 1,293,286     $ 1,478,040  

 

Indefinite life intangible assets consist of the following:

 

Trademarks   $ 440,000     $ 440,000  

 

Total Intangible Assets, net   $ 1,733,286     $ 1,918,040  

 

Approximate amortization over the next five years is as follows:

 

Twelve Month Period Ending June 30,   Amount  
       
2018   $ 370,000  
2019     370,000  
2020     370,000  
2021     183,000  
2022   -  
    $ 1,293,000