Intangible Assets

6 Months Ended

Jun. 30, 2025

Intangible Assets

Intangible Assets

Note 4 - Intangible Assets

The Company’s intangible assets consist of patents, primarily 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.

	June 30, 2025		December 31, 2024
	Cost $		Cost $
Patents and Licenses		1,517,448		1,354,274
Total Patents and Licenses		1,517,448		1,354,274
Less accumulated amortization		1,211,071		1,040,527
Total Patents and Licenses, net		306,377		313,747

During the six-month periods ended June 30, 2025 and June 30, 2024, the Company recognized $11,704 and $(12,624), 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:

Year	Amount
	$
2025 - Remaining		10,236
2026		20,305
2027		20,305
2028		20,305
2029		20,305
Greater than 5 years		214,921
Total Intangible Assets		306,377

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.