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INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2023

INTANGIBLE ASSETS

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 $3,773 and $7,547 for the three and six months ended June 30, 2023, respectively. Amortization expense was $3,628 and $6,870 for the three and six months ended June 30, 2022, respectively.

Definite life intangible assets consist of the following:

		June 30, 2023 (Unaudited)				December 31, 2022
Intellectual Property and Patents		$	3,108,063			$	3,108,063
Less: Accumulated Amortization			2,890,439				2,882,892
Patents, net		$	217,624			$	225,171

Indefinite life intangible assets consist of the following:

Trademarks			800,565				800,565
Total Intangible Assets, net		$	1,018,189			$	1,025,736

Approximate future amortization is as follows:

Year Ended:		Amount
July 1 – December 31, 2023		$	7,500
December 31, 2024			15,000
December 31, 2025			15,000
December 31, 2026			15,000
December 31, 2027			15,000
Thereafter			150,100
Total		$	217,600

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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://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350-30/tableOfContent

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