v3.26.1
Intangible Assets
12 Months Ended
Dec. 31, 2025
Intangible Assets  
Intangible Assets

Note 5 – Intangible Assets

 

Intangible assets are comprised of the following as of December 31, 2025 and 2024:

 

 

 

Estimated

 

 

Balance at

 

 

 

 

 

 

Balance at

 

 

 

(Years)

Life

 

 

December 31,

2024

 

 

Additions

 

 

Amortization

 

 

December 31,

2025

 

License agreement

 

 

17

 

 

$839,005

 

 

$-

 

 

$(62,924)

 

$776,081

 

Patents

 

 

20

 

 

 

177,589

 

 

 

-

 

 

 

(10,446)

 

 

167,143

 

Total

 

 

 

 

 

$1,016,594

 

 

$-

 

 

$(73,370)

 

$943,224

 

 

 

 

Estimated

 

 

Balance at

 

 

 

 

 

 

Balance at

 

 

 

(Years)

Life

 

 

December 31,

2023

 

 

Additions

 

 

Amortization

 

 

December 31,

2024

 

License agreement

 

 

17

 

 

$901,929

 

 

$-

 

 

$(62,924)

 

$839,005

 

Patents

 

 

20

 

 

 

86,100

 

 

 

98,602

 

 

 

(7,113)

 

 

177,589

 

Total

 

 

 

 

 

$988,029

 

 

$98,602

 

 

$(70,037)

 

$1,016,594

 

 

Amortization expense for the year ended December 31, 2025 and  2024 was $73,370 and $70,037, respectively.

 

Estimated future amortization expense as of December 31, 2025:

 

Year Ending December 31,

 

 

 

 

 

 

 

2026

 

$73,370

 

2027

 

 

73,370

 

2028

 

 

73,370

 

2029

 

 

73,370

 

2030

 

 

73,370

 

Thereafter

 

 

576,374

 

Total

 

$943,224