NOTE 4 – INTANGIBLE ASSETS, net

Intangible assets, net, consists of the following as of:

Patents are amortized straight-line over a period of fifteen years. Amortization expense was $8,318 and $8,733 for the three-months ended March 31, 2021 and 2020, respectively.

The Company has capitalized costs for several patents that are still pending. In those instances, the Company has not recorded any amortization. The Company will commence amortization when these patents are approved.

During the three-months ended March 31, 2021, the Company abandoned one patent application resulting in a loss of $4,690.

The Company has 28 issued patents, including 13 in the U.S. and 15 outside the U.S. that will expire between 2023 and 2028, subject to patent term extensions. The Company also has three additional patents pending that if issued would extend patent coverage in the U.S. and outside the U.S. to 2039-2041.