Quarterly report pursuant to Section 13 or 15(d)

Patents

v3.21.2
Patents
6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Patents

Note 5 – Patents.

 

In December 2017, we acquired from Rio Grande Neurosciences, Inc. (RGN) a patent portfolio for $4,500,000. The earliest patents expire in 2024. The following is a summary of patents less accumulated amortization at June 30, 2021, and December 31, 2020:

 

   

June 30,

2021

   

December 31,

2020

 
             
Patents   $ 4,500,000     $ 4,500,000  
                 
Less accumulated amortization     2,264,188       1,940,732  
                 
Patents, net   $ 2,235,812     $ 2,559,268  

 

Amortization expense associated with patents was $323,456 for the six months ended June 30, 2021, and 2020. The estimated future amortization expense related to patents as of June 30, 2021, is as follows:

 

       
Twelve Months Ending June 30,   Amount  
       
2021   $ 646,910  
2022     646,910  
2023     646,910  
2024     295,082  
         
Total   $ 2,235,812