| Schedule of Finite-Lived Intangible Assets |
Intangible assets as of December 31,
2019 and 2018 are as follows:
| |
|
December 31, 2019 |
|
| |
|
Cost or |
|
|
Accumulated |
|
|
Net |
|
| |
|
Deemed |
|
|
Amortization |
|
|
Book |
|
| |
|
Cost |
|
|
and Impairment |
|
|
Value |
|
| Patents & Trademarks |
|
$ |
2,626,996 |
|
|
$ |
(2,456,573 |
) |
|
$ |
170,423 |
|
| Distributors & Customer Relationships |
|
|
1,270,639 |
|
|
|
(1,270,639 |
) |
|
|
- |
|
| Total |
|
$ |
3,897,635 |
|
|
$ |
(3,727,212 |
) |
|
$ |
170,423 |
|
| |
|
December 31, 2018 |
|
| |
|
Cost or |
|
|
Accumulated |
|
|
Net |
|
| |
|
Deemed |
|
|
Amortization |
|
|
Book |
|
| |
|
Cost |
|
|
and Impairment |
|
|
Value |
|
| Patents & Trademarks |
|
$ |
2,626,996 |
|
|
$ |
(2,383,585 |
) |
|
$ |
243,411 |
|
| Distributors & Customer Relationships |
|
|
1,270,639 |
|
|
|
(1,270,639 |
) |
|
|
- |
|
| Total |
|
$ |
3,897,635 |
|
|
$ |
(3,654,224 |
) |
|
$ |
243,411 |
|
|
| Schedule of Estimated Aggregate Amortization Expense of Fiscal Years |
The following is an annual schedule
of approximate future amortization of the Company’s intangible assets:
| Period |
|
Amount |
|
| 2020 |
|
|
35,497 |
|
| 2021 |
|
|
35,497 |
|
| 2022 |
|
|
35,497 |
|
| 2023 |
|
|
28,414 |
|
| 2024 |
|
|
28,414 |
|
| Thereafter |
|
|
7,104 |
|
| Total |
|
$ |
170,423 |
|
|