Note 5 - Intangible Assets

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE

5

– INTANGIBLE ASSETS

The components of intangible assets were as follows:

	As of June 30, 2020							As of December 31, 2019
	Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount		Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount
Patents &Trademarks	$	382,897	$	(202,758	)	$	180,139	$	339,023	$	(195,286	)	$	143,737
Developed Technology		2,882,000		(180,125	)		2,701,875		2,882,000		(108,075	)		2,773,925
Customer Relationships		445,000		(185,417	)		259,583		445,000		(111,250	)		333,750
Tradename		398,000		-			398,000		398,000		-			398,000
Total	$	4,107,897	$	(568,300	)	$	3,539,597	$	4,064,023	$	(414,611	)	$	3,649,412

Amortization expense was

$153,689

and

$106,060

during the

six

months ended

June 20, 2020

and

2019,

respectively and

$77,184

and

$88,416

during the

three

months ended

June 20, 2020

and

2019,

respectively.

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

June 30, 2020:

Year ending December 31,		Expense
	2020	$	154,101
	2021		308,201
	2022		196,951
	2023		159,868
	2024		159,868
	Thereafter		2,162,608
	Total	$	3,141,597