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5. INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

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 $370,478 and $369,508 for the years ended December 31, 2019 and 2018, respectively.

Definite life intangible assets consist of the following:

	December 31, 2019	December 31, 2018
Intellectual Property and Patents	$2,906,507	$2,848,300
Less: Accumulated Amortization	2,479,754	2,109,276
Intangible Assets, net	$426,753	$739,024

Indefinite life intangible assets consist of the following:

Trademarks    $512,257   $496,792 

Total Intangible Assets, net      $939,010   $1,235,816 

Approximate future amortization is as follows:

Year Ended:	Amount
December 31, 2020	$373,000
December 31, 2021	3,000
December 31, 2022	3,000
December 31, 2023	3,000
December 31, 2024	3,000
Thereafter	$427,000

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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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