Intangible assets consist entirely of patent-related costs. The Company capitalizes legal costs directly associated with the submission of its patent applications. Gross patent costs of $70,746 as of December 31, 2025 and 2024 are amortized on a straight-line basis over the patent term and are stated net of accumulated amortization of $55,652 and $51,105, respectively. Such assets are periodically evaluated as to the recoverability of their carrying values. No asset impairment was recognized during the years ended December 31, 2025 and 2024. Amortization expense for the years ended December 31, 2025 and 2024, was $4,547 and $4,546, respectively. Costs billed to the Company as reimbursement for third parties’ patent submissions are considered as license fees and expensed as incurred.

Estimated amortization expense for each of the following five years is as follows:


Fiscal Year
2026	$	4,546
2027		4,021
2028		2,448
2029		2,448
2030		1,631
	$	15,094

The intangible assets of AxoBio consisted of customer contracts, trade name and intellectual property. Amortization expense of $625,621 related to these intangible assets is included in income from discontinued operations for the year ended December 31, 2024 in the accompanying consolidated statements of operations.