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Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 6. INTANGIBLE ASSETS

 

Intangible assets consisted of the following at December 31, 2019 and 2018:

 

    December 31, 2019     December 31, 2018  
    Gross value     Accumulated amortization     Net carrying value     Gross value     Accumulated amortization     Net carrying value  
Amortized intangible assets:                                                
Licenses   $ 73,893     $ 41,785     $ 32,108     $ 73,893     $ 31,228     $ 42,665  
Patents and Trademarks     542,420       326,220       216,200       452,599       273,586       179,013  
                                                 
      616,313       368,005       248,308       526,492       304,814       221,678  
                                                 
Unamortized intangible assets:                                                
Patents and trademarks pending     164,960       —       164,960       265,119       —       265,119  
                                                 
Total   $ 781,273     $ 368,005     $ 413,268     $ 791,611     $ 304,814     $ 486,797  

 

Patents and trademarks pending will be amortized beginning at the time they are issued by the appropriate authorities. If issuance of the final patent or trademark is denied, then the amount deferred will be immediately charged to expense.

 

Amortization expense for the years ended December 31, 2019 and 2018 was $135,660 and $115,073, respectively. Estimated amortization for intangible assets with definite lives for the next five years ending December 31 and thereafter is as follows:

 

Year ending December 31:      
2020   $ 97,502  
2021     87,967  
2022     62,399  
2023     440  
2024     —  
    $ 248,308