Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 9 – INTANGIBLE ASSETS

  

At September 30, 2018 and December 31, 2017, intangible assets consisted of the following:

 

    Useful Life   September 30, 2018     December 31, 2017  
Patents and other technologies   5 Years   $ 1,583,260     $ 2,593,478  
Goodwill               397,569  
  Less: accumulated amortization         (245,678 )     (86,449 )
  Less: impairment loss               (1,321,338 )
        $ 1,337,582     $ 1,583,260  

 

For the three months ended September 30, 2018 and 2017, amortization expense amounted to $81,892 and $0, respectively.

  

For the nine months ended September 30, 2018 and 2017, amortization expense amounted to $245,678 and $0, respectively.

 

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

 

Twelve-month periods ending September 30:     Amortization amount  
  2019     $ 327,571  
  2020       327,571  
  2021       327,571  
  2022       327,571  
  2023       27,298  
        $ 1,337,582