Note 3 - Intangible Assets

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

3. INTANGIBLE ASSETS

Intangible assets consist of patents, patent applications, and licenses.  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

$93,000

in

2019.

  There were

no

abandonments or impairment adjustments to intangible assets during the year ended

December 

31,

2018.

Intangible assets at

December 

31,

2019

 and

2018

 consist of the following:

	December 31, 2019					December 31, 2018
	Gross Carrying		Accumulated			Gross Carrying		Accumulated
	Amount		Amortization			Amount		Amortization
Amortized intangible assets:
Patents	$	452,978	$	(181,609	)	$	526,146	$	(149,740	)

	2019		2018
Aggregate amortization expense:
For the years ended December 31	$	31,869	$	24,749

Estimated amortization expense for the years ending

December 

31:

2020	$	26,000
2021		25,000
2022		25,000
2023		25,000
2024		24,000

In connection with the license agreement, the Company has agreed to pay royalties ranging from

3%

to

5%

on the sales of products subject to the agreements.  The Company incurred

$10,000

and

$13,000

of expense under these agreements during

2019

 and

2018,

respectively, which are included in selling, general and administrative expenses in the Statements of Operations.