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INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2021

INTANGIBLE ASSETS

6. INTANGIBLE ASSETS

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 $2,422 and $7,268 for the three and nine months ended September 30, 2021, respectively. Amortization expense was $93,347 and $280,041 for the three and nine months ended September 30, 2020.

Definite life intangible assets consist of the following:

		September 30, 2021 (Unaudited)				December 31, 2020
Intellectual Property and Patents		$	3,054,259			$	3,000,012
Less: Accumulated Amortization			2,864,259				2,856,991
Patents, net		$	190,000			$	143,021

Indefinite life intangible assets consist of the following:

Trademarks			639,345				579,895
Total Intangible Assets, net		$	829,345			$	722,916

Approximate future amortization is as follows:

Year Ended:		Amount
October 1 – December 31, 2021		$	3,000
December 31, 2022			13,000
December 31, 2023			13,000
December 31, 2024			13,000
December 31, 2025			13,000
Thereafter			135,000
		$	190,000

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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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