v3.26.1
INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2026
Intangible Asset, Goodwill and Other [Abstract]  
INTANGIBLE ASSETS

NOTE 9. INTANGIBLE ASSETS

 

The Company’s intangible assets are as follows:

        
   March 31, 2026   December 31, 2025 
Patents and licenses  $2,815,792   $2,766,447 
Other   5,017    5,017 
    2,820,809    2,771,464 
Less:  accumulated amortization   (1,579,545)   (1,519,933)
Intangible assets, net  $1,241,264   $1,251,531 

 

Patents and licenses costs are accounted for as intangible assets and amortized over the life of the patent or license agreement and charged to research and development.

 

Amortization expense related to purchased intangible assets was $59,612 and $54,762 for the three months ended March 31, 2026 and 2025, respectively.

 

UC royalties are paid annually, amortized over twelve months, and charged to cost of revenue.

 

Patents and trademarks are reviewed for impairment at least annually, or more frequently if events or changes in circumstances indicate that the carrying value may not be recoverable. No impairment was recognized for the three months ended March 31, 2026 and 2025.

 

Future amortization of intangible assets is as follows:

     
2026 (remainder of 2026)  $180,169 
2027   240,226 
2028   240,226 
2029   240,226 
2030   240,226 
Thereafter   100,191 
Total  $1,241,264