Note 7 - Intangibles, Net

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 7 – INTANGIBLES, NET

The Company’s intangibles, net consisted of the following:

	As of December 31, 2024							As of December 31, 2023
	Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount		Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount
Patents & Trademarks	$	515,948	$	(305,835	)	$	210,113	$	521,621	$	(280,282	)	$	241,339

Finite-lived intangible assets are amortized over their estimated useful lives. Amortization expense, recorded within general and administrative expenses of continuing operations, was $26,488 and $26,463 during the years ended December 31, 2024, and 2023, respectively. Accumulated amortization is included in Intangibles, net in the consolidated balance sheets.

The following table outlines the estimated future amortization expense related to intangible assets held as of December 31, 2024:

Year Ending December 31,	Expense
2025	$	26,489
2026		26,489
2027		26,489
2028		26,489
2029		26,489
Thereafter		77,669
Total	$	210,113

The Company reviews finite-lived intangible assets for impairment in accordance with ASC 360, Property, Plant, and Equipment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Events or changes in circumstances that indicate the carrying amount may not be recoverable include, but are not limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which the Company operates. No impairment charges related to finite-lived intangible assets held and used in continuing operations were incurred during the years ended December 31, 2024, and 2023.