INTANGIBLE ASSETS |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| INTANGIBLE ASSETS | NOTE 9. INTANGIBLE ASSETS
The Company’s intangible assets are as follows:
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 $60,422 and $53,449 for the three months ended June 30, 2026 and 2025, respectively. Amortization expense related to purchased intangible assets was $120,034 and $108,211 for the six months ended June 30, 2026 and 2025, respectively.
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 six months ended June 30, 2026 and 2025.
Future amortization of intangible assets is as follows:
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