Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 8 – INTANGIBLE ASSETS

 

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

 

    Useful Life   March 31, 2019     December 31, 2018  
Patents and other technologies   5 Years   $ 1,583,260     $ 1,583,260  
Less: accumulated amortization         (409,464 )     (327,571 )
        $ 1,173,796     $ 1,255,689  

 

For the three months ended March 31, 2019 and 2018, amortization expense amounted to $81,893.

 

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

 

Year ending March 31:   Amortization amount  
2020   $ 327,571  
2021     327,571  
2022     327,571  
2023     191,083  
    $ 1,173,796