Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
6 Months Ended
Jun. 30, 2024
Intangible Assets and Goodwill [Abstract]  
INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

 

Intangible assets, net consists of the following:

 

    June 30, 2024     December 31, 2023  
    Gross Carrying
Amount
    Accumulated
Amortization
    Net     Gross Carrying
Amount
    Accumulated
Amortization
    Net  
In-process research and development   $ 2,900,000     $
    $ 2,900,000     $ 2,900,000     $
    $ 2,900,000  
Patents and intellectual property     5,671,478       (945,246 )     4,726,232       5,671,478       (630,164 )     5,041,314  
Intangible assets, net   $ 8,571,478     $ (945,246 )   $ 7,626,232     $ 8,571,478     $ (630,164 )   $ 7,941,314  

 

As of June 30, 2024, future expected amortization expense of Intangible assets was as follows:

 

2024 (remaining)   $ 315,082  
2025     630,164  
2026     630,164  
2027     630,164  
2028     630,164  
Thereafter     1,890,494  
Remaining future amortization expense   $ 4,726,232  

 

There were no changes to goodwill for the six months ended June 30, 2024.