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Intangible Assets
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

5. Intangible Assets

 

Intangible assets consisted of the following at:

December 31, 2023:

 

   Estimated Useful Life  Gross Amount   Accumulated Amortization   Impairment   Net Amount 
Trademarks  Indefinite  $57,474   $—   $—   $57,474 
Patents  17 years   169,190    15,783    —    153,407 
License agreement  17 years   78,606    —    78,606    — 
Intangible assets     $305,270   $15,783   $78,606   $210,881 

 

December 31, 2022:

 

   Estimated Useful Life  Gross Amount   Accumulated Amortization   Impairment   Net Amount 
Trademarks  Indefinite  $53,999   $—   $—   $53,999 
Patents  17 years   108,198    8,140    —    100,058 
License agreement  17 years   65,510    —    —    65,510 
Intangible assets     $227,707   $8,140   $—   $219,567 

 

During the years ended December 31, 2023 and 2022, amortization expense related to intangible assets was $7,643 and $5,234, respectively. During the third quarter, the Company recorded an impairment of $78,606 to licensing costs, recorded within general and administrative expenses on the consolidated statements of operations, as there is uncertainty as to the likelihood of the patent being granted. All subsequent licensing costs have been expensed as incurred.