7. INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

Intangible assets consisted of the following:

	December 31,			December 31,
	2020			2019
Amortizable intangible assets:
Patents	$	279,294		$	176,425
Trademarks		83,964			57,919
Purchased software		662,250			-
Other		50,000			-
		1,075,508			234,344
Accumulated amortization		(22,587	)		(4,061	)
Total amortizable		1,052,921			230,283
Indefinite life assets (non-amortizable)		343,563			-
Total intangible assets-net	$	1,396,484		$	230,283

Amortization expense was $18,526 and $2,706 for the years ended December 31, 2020 and 2019, respectively.

At December 31, 2020, annual amortization of intangible assets, based upon the Company’s existing intangible assets and current useful lives, is estimated to be the following:

2021	$	186,266
2022		150,766
2023		145,766
2024		145,766
2025		145,766
Thereafter		278,591
Total estimated amortization expense	$	1,052,921