v3.23.3
INTANGIBLE ASSETS
6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 5 - INTANGIBLE ASSETS

 

Intangible assets consist of the following:

 

           Amortization 
   June 30,   December 31,   Period 
   2023   2022   (in Years) 
Amortized intangible assets:               
Patents  $361,284   $361,284    6 - 20 
Proprietary technology   13,000    13,000    10 
Tradename and brand   13,000    13,000    5 - 10 
                
Total   387,284    387,284      
Accumulated amortization   (257,843)   (241,985)     
                
Intangible assets, net   129,441    145,299      
Indefinite-lived intangible assets:               
Trademarks   9,072    9,072      
                
Total intangible assets  $138,513   $154,371      

 

Amortization expense for the six months ended June 30, 2023 and 2022 was $15,858 and $48,458, respectively.

 

Estimated future amortization expense for finite-lived intangible assets is as follows:

 

   Amount 
     
Remaining in 2023  $15,858 
2024   31,716 
2025   24,652 
2026   16,032 
2027   16,032 
Thereafter   25,151 
      
Total  $129,441