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5. INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
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 $369,508 and $369,508 for the years ended December 31, 2018 and 2017, respectively.

 

  Definite life intangible assets consist of the following:

 

   

December 31,

2018

   

December 31,

2017

 
             
Intellectual Property and Patents   $ 2,848,300     $ 2,848,300  
Less: Accumulated Amortization     2,109,276       1,739,768  
Intangible Assets, net   $ 739,024     $ 1,108,532  

 

Indefinite life intangible assets consist of the following:

 

Trademarks   $ 496,792     $ 440,000  
                 
Total Intangible Assets, net   $ 1,235,816     $ 1,548,532  

 

Approximate amortization over the next five years is as follows:

 

Twelve Month Period Ending December 31,

  Amount  
       
2019   $ 370,000  
2020     369,000  
2021     -  
2022     -  
2023     -  
    $ 739,000