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5. INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2019

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, 2019 and 2018, respectively.

Definite life intangible assets consist of the following:

		June 30, 2019 (Unaudited)				December 31, 2018
Intellectual Property and Patents		$	2,848,300			$	2,848,300
Less: Accumulated Amortization			2,294,030				2,109,276
Intangible Assets, net		$	554,270			$	739,024

Indefinite life intangible assets consist of the following:

Trademarks		$	496,792			$	496,792
Total Intangible Assets, net		$	1,051,062			$	1,235,816

Approximate amortization over the next five years is as follows: 

Year Ended		Amount
July 1 – December 31, 2019		$	184,000
December 31, 2020			370,000
December 31, 2021			-
December 31, 2022			-
December 31, 2023			-
		$	554,000

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- References

No definition available.

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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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