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INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 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 $21,121 and $14,495 for the years ended December 31, 2022 and 2021, respectively.

Definite life intangible assets consist of the following:

		December 31, 2023				December 31, 2022
Intellectual Property and Patents		$	3,196,396			$	3,108,063
Less: Accumulated Amortization			2,904,013				2,882,892
Patents, net		$	292,383			$	225,171

Indefinite life intangible assets consist of the following:

Trademarks			830,863				800,565
Total Intangible Assets, net		$	1,123,246			$	1,025,736

Approximate future amortization is as follows (rounded to nearest thousandth):

Year Ended:		Amount
December 31, 2024			20,000
December 31, 2025			20,000
December 31, 2026			20,000
December 31, 2027			20,000
December 31, 2028			20,000
Thereafter			192,000
Total		$	292,000

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- References

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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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