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6. INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

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 $280,041 for the three and nine months ended September 30, 2020. Amortization expense was $92,377 and $277,131 for the three and nine months ended September 30, 2019.

Definite life intangible assets consist of the following:

		September 30, 2020 (Unaudited)				December 31, 2019
Intellectual Property and Patents		$	2,906,507			$	2,906,507
Less: Accumulated Amortization			2,759,795				2,479,754
Intangible Assets, net		$	146,712			$	426,753

Indefinite life intangible assets consist of the following:

Trademarks		$	512,257			$	512,257
Total Intangible Assets, net		$	658,969			$	939,010

Approximate future amortization is as follows:

Year Ended:		Amount
October 1 – December 31, 2020		$	93,000
December 31, 2021			3,000
December 31, 2022			3,000
December 31, 2023			3,000
December 31, 2024			3,000
Thereafter			42,000
		$	147,000

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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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