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Note L - Intangible Assets

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE L—INTANGIBLE ASSETS

Intangible assets consisted of the following as of December 31:

		2021								12/31/21				2020								12/31/20
		Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount				Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount

Trade name		$	130,000			$	(12,960	)		$	117,040			$	130,000			$	(4,333	)		$	125,667
Proprietary software			420,000				(126,000	)			294,000				420,000				(42,000	)			378,000
Customer relationships			930,000				(155,000	)			775,000				930,000				(51,667	)			878,333
Patents and patents pending			365,080				(253,043	)			112,037				365,080				(232,934	)			132,146
Total		$	1,845,080			$	(547,003	)		$	1,298,077			$	1,845,080			$	(330,934	)		$	1,514,146

Aggregate amortization expense for 2021 and 2020 was approximately $216,000 and $120,000, 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
2022		$	215,000
2023			213,000
2024			209,000
2025			165,000
2026			121,000
Thereafter			375,077
Total		$	1,298,077