NOTE 3 – Intangible Assets

The Company’s intangible assets consist of patents and patent applications.

Provisional patent applications are not amortized until a patent has been granted. Once a patent is granted, the Company will amortize the related costs over the estimated useful life of the patent. If a patent application is denied, then the costs will be expensed at that time.

During 2022, $126,231 of costs related to patents issued to us during 2022 were reclassified from provisional patent application to patents and began to be amortized as of the date of issue.

The following is a summary of definite-life intangible assets less accumulated amortization as of September 30, 2022 and December 31, 2021, respectively:

Summary of Definite-life Intangible Assets and Accumulated Amortization 

Amortization expense on intangible assets was $17,010 and $22,998 for the nine months ended September 30, 2022 and 2021, respectively.

The estimated aggregate amortization expense for each of the following years ending December 31 is as follows:

Schedule of Aggregate Amortization Expense