Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

Intangible Assets, Net
3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net



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


    March 31, 2019 (Unaudited)     December 31, 2018  
Patents   $ 585,589     $ 578,326  
Less accumulated amortization     (303,774 )     (292,512 )
      281,815       285,814  
Patents pending     152,557       148,720  
Total intangible assets, net   $ 434,372     $ 434,534  


Patents are amortized straight-line over a period of fifteen years. Amortization expense was $11,262 and $8,517 for the three-months ended March 31, 2019 and 2018, 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 28 issued patents, including 14 in the United States and 14 others in Europe, Canada, China, India, Japan, and Hong Kong. These patents will expire beginning in 2023 through 2028, subject to any patent term extensions of the individual patent. The Company has 1 patent application pending in the United States and 2 foreign patent applications pending in Europe and Brazil.