Annual report pursuant to Section 13 and 15(d)

Patents

v3.19.1
Patents
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Patents

Note 4 – Patents

 

In December 2017, we acquired from RGN a patent portfolio for $4,500,000. The earliest patent expires in 2024. The following is a summary of patents less accumulated amortization at December 31, 2018 and 2017:

 

    December 31,  
    2018     2017  
             
Patents   $ 4,500,000     $ 4,500,000  
                 
Less accumulated amortization     646,910       -  
                 
    $ 3,853,090     $ 4,500,000  

 

Amortization expense for the years ended December 31, 2018 and 2017 was $646,910 and $0, respectively.

 

The estimated future amortization expense related to patents as of December 31, 2018 is as follows:

 

Year Ended December 31.   Amount  
       
2019   $ 646,910  
2020     646,910  
2021     646,910  
2022     646,910  
2023     646,910  
Thereafter     618,540  
Total   $ 3,853,090