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INTANGIBLE ASSET
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSET

NOTE 7. INTANGIBLE ASSET

 

The Company’s intangible assets consist of patents and capitalized legal fees related to the patents. Intangible assets, net are as follows:

 

December 31, 2024  Useful Lives
(Years)
  Gross Carrying
Amount
   Accumulated
Amortization
   Net Carrying
Amount
 
Patent  10 years   397,165    (239,014)   158,151 
Intangible assets, net     $397,165   $(239,014)  $158,151 

 

December 31, 2023  Useful Lives
(Years)
  Gross Carrying
Amount
   Accumulated
Amortization
   Net Carrying
Amount
 
Patents  10 years   397,165    (199,002)   198,163 
Intangible assets, net     $397,165   $(199,002)  $198,163 

 

Amortization expense was approximately $40,000 and $39,000 for the years ended December 31, 2024 and 2023, respectively.

 

The weighted-average remaining amortization period of the Company’s amortizable intangible assets is approximately 5 years as of December 31, 2024. The estimated future amortization of the intangible assets is as follows:

 

For the years ending December 31,    
2025  $39,124 
2026   38,180 
2027   32,564 
2028   23,333 
2029   12,475 
Thereafter   12,475 
Total  $158,151