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INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2020
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

4. INTANGIBLE ASSETS

 

Intangible assets included in “other assets” on the balance sheet consisted of patent licensing fees paid to license intellectual property (see Note 12).  The Company is amortizing the license fee as a research and development expense over the 15– year term of the license.

 

 

 

 

 

 

 

 

 

 

 

December 31, 

 

December 31, 

 

(In thousands)

    

2020

    

2019

 

Patent licensing fee

 

$

200

 

$

200

 

Accumulated amortization

 

 

(191)

 

 

(174)

 

Other assets

 

$

 9

 

$

26

 

 

For the years ended December 31, 2020 and 2019, amortization expense was $17 thousand  and $18 thousand respectively. The remaining intangible assets balance of $9 thousand as of December 31, 2020 will be fully amortized in the year ended December 31, 2021.