Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

6. INTANGIBLE ASSETS

The Company's intangible assets at March 31, 2020 and December 31, 2019 consisted of the following:

March 31, 2020

Intangible Assets	Cost		Accumulated Amortization		Net
Patents	$	622,733	$	505,392	$	117,341
Trade names and trademarks		1,715,325		597,142		1,118,183
Customer list		584,468		182,541		401,927
Product formulas		292,234		91,273		200,961
Royalty rights		160,000		119,627		40,873
Total intangible assets	$	3,374,760	$	1,495,975	$	1,878,785

December 31, 2019

Intangible Assets	Cost		Accumulated Amortization		Net
Patents	$	622,733	$	492,308	$	130,425
Trade names and trademarks		1,715,325		587,387		1,127,938
Customer list		584,468		153,319		431,149
Product formulas		292,234		76,659		215,575
Royalty rights		160,000		115,140		44,860
Total intangible assets	$	3,374,760	$	1,424,813	$	1,949,947

Amortization expense related to intangible assets was $71,162 and $63,480 for the three months ended March 31, 2020 and 2019, respectively.