Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

Intangible Assets, Net
9 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net



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


    September 30, 2017     December 31, 2016  
Patents   $ 432,985     $ 432,985  
Less accumulated amortization     (257,951 )     (240,275 )
      175,034       192,710  
Patents pending     254,197       238,060  
Total intangible assets, net   $ 429,231     $ 430,770  


Patents are amortized straight-line over a period of fifteen years. Amortization expense was $5,892 and $17,676 for the three and nine-months ended September 30, 2017, respectively, and $5,111 and $17,395, for the three and nine-months ended September 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.