Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 10 – INTANGIBLE ASSETS

  

At March 31, 2018 and December 31, 2017, intangible assets consisted of the following:

 

    Useful Life   March 31, 2018     December 31, 2017  
Patents and other technologies   5 Years   $ 1,583,260     $ 2,593,478  
Goodwill               397,569  
  Less: accumulated amortization         (81,893 )     (86,449 )
  Less: impairment loss               (1,321,338 )
        $ 1,501,367     $ 1,583,260  

 

For the three months ended March 31, 2018 and 2017, amortization expense amounted to $81,893 and $0, respectively. Amortization of intangible assets attributable to future periods is as follows:

 

Twelve-month periods ending March 31:     Amortization amount  
2019     $ 327,571  
2020       327,571  
2021       327,571  
2022       327,571  
2023       191,083  
      $ 1,501,367