Intangible Assets

3 Months Ended

Mar. 31, 2025

Intangible Assets

Intangible Assets

Note 4 - Intangible Assets

The Company’s intangible assets consist of patents, mainly acquired in the acquisition of Belgian Volition. The patents are being amortized over the assets’ estimated useful lives, which range from 8 to 20 years.

	March 31, 2025		December 31, 2024
	Cost $		Cost $
Patents and Licenses		1,408,333		1,354,274
Total Patents and Licenses		1,408,333		1,354,274
Less accumulated amortization		1,091,204		1,040,527
Total Patents and Licenses, net		317,129		313,747

During the three-month periods ended March 31, 2025 and March 31, 2024, the Company recognized $5,693 and $(14,294), respectively, in amortization expense.

The Company amortizes the patents and licenses on a straight-line basis with terms ranging from 8 to 20 years. The annual estimated amortization schedule over the next five years is as follows:

2025	$	15,561
2026	$	20,748
2027	$	20,748
2028	$	20,748
2029	$	20,748
Greater than 5 years	$	218,576
Total Intangible Assets	$	317,129

The Company periodically reviews its long-lived assets to ensure that their carrying value does not exceed their fair market value. The Company carried out such a review in accordance with ASC 360, “Property, Plant and Equipment,” as of December 31, 2024. The result of this review confirmed that the ongoing value of the patents was not impaired as of December 31, 2024.