Note 3 - Intangible Assets, Net |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Asset [Text Block] |
Note 3 – Intangible Assets, Net
Intangible assets, net consisted of the following:
At June 30, 2026 and December 31, 2025, the Company capitalized $616,940 and $723,156, respectively, for costs related to patents that have not been awarded. Cost related to patents that have not yet been awarded are not amortized until patent issuance.
Amortization expense amounted to $56,883 and $113,283 for the three and six months ended June 30, 2026, respectively, and $54,699 and $109,399 for the three and six months ended June 30, 2025, respectively. Amortization expense for the succeeding five years and thereafter is $114,977 (remaining six months of 2026), $229,955 (2027-2030) and $884,837 (thereafter).
In the three months ended June 30, 2026, the Company conducted an evaluation and rationalization of its patent portfolio and recorded a non-cash impairment charge of $215,133. The impairment charge is included in general and administrative expenses.
Costs related to indefinite life trademarks are not amortized but are subject to evaluation for potential impairment. |
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