INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

INTANGIBLE ASSETS

INTANGIBLE ASSETS

3.           INTANGIBLE ASSETS

Intangible assets consist of patents, and patent applications. Capitalized patent application costs are included with patents. Intangible assets are amortized on a straight-line basis over their estimated useful lives or terms of their agreement, whichever is shorter. The Company wrote off costs related to abandoned patent applications of $17,000 in 2020 and $93,000 in 2019.

Intangible assets at December 31, 2020 and 2019 consist of the following:

	December 31, 2020				December 31, 2019
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
Amortized intangible assets:
Patents	$	450,982	$	(207,399)	$	452,978	$	(181,609)

	2020		2019
Aggregate amortization expense:
For the years ended December 31	$	25,790	$	31,869

Estimated amortization expense for the years ending December 31:

2021	$	25,000
2022		25,000
2023		25,000
2024		24,000
2025		24,000
Thereafter		67,000

In connection with a license agreement, the Company has agreed to pay royalties ranging from 3% to 5% on the sales of products subject to the agreement. The Company incurred $8,000 and $10,000 of expense under these agreements during 2020 and 2019, respectively, which are included in selling, general and administrative expenses in the Statements of Operations.