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INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2024
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 $26,308 and $21,121 for the years ended December 31, 2024 and 2023, respectively.

 

Definite life intangible assets consist of the following:

 

 

December 31,

2024

 

 

December 31,

2023

 

Intellectual Property and Patents

 

$3,350,031

 

 

$3,196,396

 

Less: Accumulated Amortization

 

 

2,930,321

 

 

 

2,904,013

 

Patents, net

 

$419,710

 

 

$292,383

 

 

Indefinite life intangible assets consist of the following:

 

Trademarks

 

 

830,864

 

 

 

830,863

 

 

Total Intangible Assets, net

 

$1,250,574

 

 

$1,123,246

 

 

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

 

Year Ended:

 

Amount

 

 

 

 

 

December 31, 2025

 

$20,000

 

December 31, 2026

 

 

20,000

 

December 31, 2027

 

 

20,000

 

December 31, 2028

 

 

20,000

 

December 31, 2029

 

 

20,000

 

Thereafter

 

 

320,000

 

Total

 

$420,000