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Note L - Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | NOTE L — INTANGIBLE ASSETS Intangible assets consisted of the following as of December 31:
|  | 2020 |  |  | 2019 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Write- offs |  |  | Net Carrying Amount |
Trade name |  | $ | 130,000 |  |  | $ | (4,333 | ) |  | $ | 125,667 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Proprietary software |  |  | 420,000 |  |  |  | (42,000 | ) |  |  | 378,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Customer relationships |  |  | 930,000 |  |  |  | (51,667 | ) |  |  | 878,333 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Patents and patents pending |  |  | 365,080 |  |  |  | (232,934 | ) |  |  | 132,146 |  |  |  | 380,080 |  |  |  | (210,694 | ) |  |  | (15,000 | ) |  |  | 154,386 |
Total |  | $ | 1,845,080 |  |  | $ | (330,934 | ) |  | $ | 1,514,146 |  |  | $ | 380,080 |  |  | $ | (210,694 | ) |  | $ | (15,000 | ) |  | $ | 154,386 |
Aggregate amortization expense for 2020 and 2019 was $120,240 and $28,256, respectively. Estimated minimum amortization expense based on straight line amortization of the software license rights for each of the next five years and thereafter approximates the following:
Years ending December 31 |  |  |  |
2021 |  | $ | 216,000 |
2022 |  |  | 215,000 |
2023 |  |  | 213,000 |
2024 |  |  | 209,000 |
2025 |  |  | 165,000 |
Thereafter |  |  | 496,146 |
Total |  | $ | 1,514,146 |

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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 + Details
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