OTHER ASSETS

12 Months Ended

Dec. 31, 2021

OTHER ASSETS:

OTHER ASSETS:

5. OTHER ASSETS:

Other assets consist of the following:

December 31,	2021		2020
Patent applications pending	$	2,717,701	$	2,970,354
Patents issued		2,641,603		1,748,938
Less accumulated amortization of patents issued		(657,320)		(496,898)
Patents, net		4,701,984		4,222,394
Security deposits		256,591		125,892
Total	$	4,958,575	$	4,348,286

Amortization expense amounted to $160,422, $106,842 and $85,804 for the years ended December 31, 2021, 2020 and 2019, respectively.

Amortization expense for the next five years will be approximately $192,000 for the year ended December 31, 2022; approximately $189,000 for the year ended December 31, 2023; approximately $189,000 for the year ended December 31, 2024; approximately $189,000 for the year ended December 31, 2025 and approximately $188,000 for the year ended December 31, 2026.