Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.19.2
Intangible Assets
6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 8 – INTANGIBLE ASSETS

  

At June 30, 2019 and December 31, 2018, intangible assets consisted of the following:

 

    Useful Life   June 30, 2019     December 31, 2018  
Patents and other technologies   5 Years   $ 1,583,260     $ 1,583,260  
Less: accumulated amortization         (491,357 )     (327,571 )
        $ 1,091,903     $ 1,255,689  

 

For the three months ended June 30, 2019 and 2018, amortization expense amounted to $81,893. For the six months ended June 30, 2019 and 2018, amortization expense amounted to $163,786.

 

Amortization of intangible assets attributable to future periods is as follows:

 

Year ending June 30:   Amortization amount  
2020   $ 327,571  
2021     327,571  
2022     327,571  
2023     109,190  
    $ 1,091,903