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INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 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 $11,406 and $377,237 for the years ended December 31, 2021 and 2020, respectively.

Definite life intangible assets consist of the following:

		December 31, 2021				December 31, 2020
Intellectual Property and Patents		$	3,065,584			$	3,000,012
Less: Accumulated Amortization			2,868,397				2,856,991
Patents, net		$	197,187			$	143,021

Indefinite life intangible assets consist of the following:

Trademarks			759,097				578,895
Total Intangible Assets, net		$	956,284			$	722,916

Approximate future amortization is as follows:

Approximate future amortization is as follows:

Year Ended:		Amount
December 31, 2022			10,000
December 31, 2023			10,000
December 31, 2024			10,000
December 31, 2025			10,000
December 31, 2026			10,000
Thereafter			147,000
		$	197,000

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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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