Note 5 - Intangible Assets

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE

5

– INTANGIBLE ASSETS

The components of intangible assets were as follows:

	March 31, 2020							December 31, 2019
	Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount		Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount
Patents & Trademarks	$	371,533	$	(198,686	)	$	172,847	$	339,023	$	(195,286	)	$	143,737
Developed Technology		2,882,000		(144,097	)		2,737,903		2,882,000		(108,075	)		2,773,925
Customer Relationships		445,000		(148,333	)		296,667		445,000		(111,250	)		333,750
Tradename		398,000		-			398,000		398,000		-			398,000
Total	$	4,096,533	$	(491,116	)	$	3,605,417	$	4,064,023	$	(414,611	)	$	3,649,412

Amortization expense was

$76,505

and

$17,644

in the

three

-month periods ended

March 31, 2020

and

2019,

respectively.

The following table outlines the estimated future amortization expense related to intangible assets held as of

March 31, 2020:

Year ending December 31,		Expense
	2020	$	231,151
	2021		308,201
	2022		196,951
	2023		159,868
	2024		159,868
	Thereafter		2,151,378
	Total	$	3,207,417