Quarterly report pursuant to Section 13 or 15(d)

Patents (Tables)

v3.20.1
Patents (Tables)
3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Patents Less Accumulated Amortization

The following is a summary of patents less accumulated amortization at March 31, 2020 and December 31, 2019:

 

    March 31, 2020     December 31, 2019  
             
Patents   $ 4,500,000     $ 4,500,000  
                 
Less accumulated amortization     1,455,548       1,293,820  
                 
    $ 3,044,452     $ 3,206,180  
Schedule of Estimated Future Amortization Expense

The estimated future amortization expense related to patents as of March 31, 2020 is as follows:

 

Twelve Months Ending March 31,   Amount  
       
2021   $ 646,910  
2022     646,910  
2023     646,910  
2024     646,910  
2025     456,812  
         
Total   $ 3,044,452