Annual report pursuant to Section 13 and 15(d)

Patents and Trademarks, Net

v3.20.4
Patents and Trademarks, Net
12 Months Ended
Dec. 31, 2020
Patents and Trademarks, Net  
Patents and Trademarks, Net

Note 5 — Patents and Trademarks, Net

December 31, 

December 31, 

    

2020

    

2019

Patents and Trademarks

$

2,330,720

$

2,020,070

Less: Accumulated Amortization

 

(737,671)

 

(725,395)

Patents and Trademarks, Net

$

1,593,049

$

1,294,675

Total amortization expense for patents and trademarks for the years ended December 31, 2020, 2019 and 2018 was $130,656, $120,172 and $94,137, respectively. The estimated aggregate annual amortization expense for each of the next five fiscal years is approximately $155,000. We recorded $73,532 in patent impairment charges for the year ended December 31, 2020 and nil in the years ended 2019 and 2018.