INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 4. INTANGIBLE ASSETS

Amortization is computed using the straight-line method and is recognized over the estimated useful lives of the intangible assets, which range from 1 to 15 years. Amortization expense was $234,621 and $232,284 for the nine months ended September 30, 2019 and 2018, respectively. Intangible assets at September 30, 2019 and December 31, 2018 consisted of the following:

	September 30, 2019			December 31, 2018
Patents	$	4,505,489		$	4,514,989
Technology rights		200,000			235,500
Intangible, at cost		4,705,489			4,750,489
Less: Accumulated amortization		(922,837	)		(690,714	)
Net Carrying Amount	$	3,782,652		$	4,059,775

Estimated Future Amortization Expense:

	$
For year ending December 31, 2019		76,947
For year ending December 31, 2020		303,613
For year ending December 31, 2021		302,003
For year ending December 31, 2022		302,003
For year ending December 31, 2023 to December 31, 2034		2,798,086
Total		3,782,652

On May 10, 2019, the Company sold intangible assets with a carrying value of $92,502 for $111,323 of cash and the settlement of $33,677 of liabilities owed to the buyer.  The Company recorded a gain on sales of intangible assets of $52,498.