| INTANGIBLE ASSETS AND GOODWILL |
NOTE 5 – INTANGIBLE ASSETS AND GOODWILL
Intangible assets, net consists of the following:
| |
|
September 30, 2023 |
|
|
December 31, 2022 |
|
| |
|
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 |
|
|
|
(472,623 |
) |
|
|
5,198,855 |
|
|
|
5,671,478 |
|
|
|
- |
|
|
|
5,671,478 |
|
| Intangible assets, net |
|
$ |
8,571,478 |
|
|
$ |
(472,623 |
) |
|
$ |
8,098,855 |
|
|
$ |
8,571,478 |
|
|
$ |
- |
|
|
$ |
8,571,478 |
|
As of September 30, 2023, future expected amortization expense of
Intangible assets was as follows:
2023 (remaining) |
|
$ |
157,541 |
|
| 2024 |
|
|
630,164 |
|
| 2025 |
|
|
630,164 |
|
| 2026 |
|
|
630,164 |
|
| 2027 |
|
|
630,164 |
|
| Thereafter |
|
|
5,420,658 |
|
| Remaining future amortization expense |
|
$ |
8,098,855 |
|
There were no changes to goodwill for the nine
months ended September 30, 2023.
|