Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 5 – Intangible Assets

The Company’s intangible assets at December 31, 2021 and 2020 consisted of the following:

December 31, 2021  

Intangible Assets	Cost		Accumulated Amortization		Net
Patents	$	622,733	$	596,980	$	25,753
Trade names and trademarks		1,715,325		665,440		1,049,885
Customer list		584,468		387,105		197,363
Product formulas		292,234		193,554		98,680
Royalty rights		160,000		151,029		8,971
Total intangible assets	$	3,374,760	$	1,994,108	$	1,380,652

December 31, 2020  

Intangible Assets	Cost		Accumulated Amortization		Net
Patents	$	622,733	$	544,644	$	78,089
Trade names and trademarks		1,715,325		626,413		1,088,912
Customer list		584,468		270,212		314,256
Product formulas		292,234		135,107		157,127
Royalty rights		160,000		133,085		26,915
Total intangible assets	$	3,374,760	$	1,709,461	$	1,665,299

Amortization expense related to intangible assets aggregated $284,647 and $284,648 for the years ended December 31, 2021 and 2020, respectively.