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6. INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 6. 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 $93,347 and $92,377 for the three months ended March 31, 2020 and 2019, respectively.

Definite life intangible assets consist of the following:

		March 31, 2020 (Unaudited)				December 31, 2019
Intellectual Property and Patents		$	2,906,507			$	2,906,507
Less: Accumulated Amortization			2,573,101				2,479,754
Intangible Assets, net		$	333,406			$	426,753

Indefinite life intangible assets consist of the following:

Trademarks $ 512,257 $ 512,257

Total Intangible Assets, net $ 845,663 $ 939,010

Approximate future amortization is as follows:

Year Ended:			Amount
April 1 – December 31, 2020		$	279,000
December 31, 2021			3,000
December 31, 2022			3,000
December 31, 2023			3,000
December 31, 2024			3,000
Thereafter			42,000
		$	333,000

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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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