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5. INTANGIBLE ASSETS

9 Months Ended

Sep. 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 $277,131 for the three and nine months ended September 30, 2019 and 2018, respectively.

Definite life intangible assets consist of the following:

		September 30, 2019 (Unaudited)				December 31, 2018
Intellectual Property and Patents		$	2,906,507			$	2,848,300
Less: Accumulated Amortization			2,386,407				2,109,276
Intangible Assets, net		$	520,100			$	739,024

Indefinite life intangible assets consist of the following:

Trademarks		$	496,792				496,792
Total Intangible Assets, net		$	1,016,892			$	1,235,816

Approximate future amortization is as follows:

Year Ended:
October 1 – December 31, 2019		$	93,000
December 31, 2020			373,000
December 31, 2021			3,000
December 31, 2022			3,000
December 31, 2023			3,000
Thereafter			45,000
		$	520,000

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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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