Intangible Assets |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | Intangible Assets At both September 30, 2022 and December 31, 2021, the Company had recorded a gross intangible asset balance of $2,091,556, which is related to patent and intangible property rights acquired. Amortization expense of intangible assets was $34,860 each for the three months ended September 30, 2022 and 2021, respectively. Amortization expense of intangible assets was $104,578 each for the nine months ended September 30, 2022 and 2021, respectively. Accumulated amortization totaled $715,058 and $610,480 at September 30, 2022 and December 31, 2021, respectively. The net amount of intangible assets of $1,376,499 at September 30, 2022, will be amortized over the weighted average remaining life of 10.2 years. Total estimated future amortization expense is as follows:
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