| Intangible Assets |
INTANGIBLE ASSETS The following table provides a summary of the Company’s intangible assets: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Cost | | Accumulated
Amortization | | Cost | | Accumulated
Amortization | | Technology | $ | 46,470 | | $ | 14,624 | | $ | 46,470 | | $ | 13,103 | | Patents | 30,000 | | 9,600 | | 30,000 | | 6,900 | | Total | $ | 76,470 | | $ | 24,224 | | $ | 76,470 | | $ | 20,003 |
The following table summarizes the allocation of amortization expense of intangible assets: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Cost of revenues | $ | 1,350 | | | $ | 1,125 | | | $ | 2,700 | | | $ | 2,250 | | Research and development expenses | 761 | | | 760 | | | 1,521 | | | 1,498 | | | Total | $ | 2,111 | | | $ | 1,885 | | | $ | 4,221 | | | $ | 3,748 | |
Future amortization expense is projected as follows: | | | | | | 2025 (excluding the six months ended June 30, 2025) | $ | 4,220 | | 2026 | 9,535 | | 2027 | 10,435 | | 2028 | 6,535 | | 2029 | 2,935 | 2030 and thereafter | 18,586 | | Total | $ | 52,246 |
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