Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.22.2.2
Intangible Assets, Net
 9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 7 – INTANGIBLE ASSETS, NET

 

The components of the acquired intangible assets were as follows:

 

    September 30,
2022		     December 31,
2021		     Average
Estimated
Life		  
Patent products   $ 10,277,000     $ 10,277,000       15.4  
Licenses and trademarks     836,000       836,000       9  
Intangible assets   $ 11,113,000     $ 11,113,000          
                         
Less: Accumulated amortization     (769,462 )     (192,423 )        
Total   $ 10,343,538     $ 10,920,577          

 

Amortization expense was $192,365 and $577,039 for the three and nine months ended September 30, 2022, respectively. There was no intangible amortization expense for the three and nine month periods ended September 30, 2021.