Intangible assets, net

12 Months Ended

Dec. 31, 2022

Intangible assets, net

Intangible assets, net

3. Intangible assets, net

Intangible assets are stated at cost less accumulated amortization and consist of the following at December 31, 2022 and 2021:

	December 31,
	2022			2021
Patents and technology	$	39,369,997		$	39,371,317
Less: accumulated amortization		(6,563,259	)		(2,042,126	)
Patents and technology, net	$	32,806,738		$	37,329,191

Amortization expense amounted to $4,522,002 for the year ended December 31, 2022 and $2,000,302 for the year ended December 31, 2021, and is included in R&D, selling, general and administrative expenses. No impairment was recorded in 2022 and 2021.

We acquired intellectual properties related to VOC and COVID-19 technologies amounted $39,143,975 from Ainos KY pursuant to a Securities Purchase Agreement dated December 24, 2020 and the Asset Purchase Agreement dated November 18, 2021. Refer to Note 6 for the related information.

Estimated future amortization expense is as follows:

2023		4,522,141
2024		4,534,493
2025		4,522,141
2026		4,521,973
2027		4,521,132
Thereafter		10,184,858
Total expense	$	32,806,738