Annual report pursuant to Section 13 and 15(d)

Note 3 - Patents

v3.20.1
Note 3 - Patents
12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]
Note
3
– Patents
 
The following table sets forth patents:
 
   
December 31,
2019
   
December 31, 201
8
   
 
 
 
   
Gross
   
 
 
 
 
 
 
 
 
Gross
   
 
 
 
 
 
 
 
 
Useful
 
   
Carrying
   
Accumulated
   
Net Book
   
Carrying
   
Accumulated
   
Net Book
   
Life
 
   
Amount
   
Amortization
   
Value
   
Amount
   
Amortization
   
Value
   
In Years
 
                                                         
Patents
  $
1,400,000
    $
(260,745
)
  $
1,139,255
    $
1,400,000
    $
(180,515
)
  $
1,219,484
     
17.45
 
 
The patents were acquired with the
September 30, 2016
reverse acquisition. Amortization expense for the next
five
fiscal years and thereafter is expected to be approximately
$80,000
annually through the year ended
December 31, 2034.