Intangible Assets, Net |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets, Net |
NOTE 5 – 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 $5,892 and $11,784 for the three and six-months ended June 30, 2017, respectively, and $6,142 and $12,284, for the three and six-months ended June 30, 2016, 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.
The Company owns 21 issued patents, including 14 in the United States and 7 others in China, India, Japan, and Hong Kong. These patents will expire during the years of 2023 to 2028, subject to any patent term extensions of the individual patent. The Company has 5 foreign patent applications pending in Europe, Canada, and Brazil. |
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