Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

5. INTANGIBLE ASSETS

The Company’s intangible assets at March 31, 2022 and December 31, 2021 consisted of the following:

March 31, 2022

Intangible Assets	Cost		Accumulated Amortization		Net
Patents	$	622,733	$	609,871	$	12,862
Trade names and trademarks		1,715,325		675,195		1,040,130
Customer list		584,468		416,328		168,140
Product formulas		292,234		208,168		84,066
Royalty rights		160,000		155,515		4,485
Total intangible assets	$	3,374,760	$	2,065,077	$	1,309,683

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

Amortization expense related to intangible assets was $70,969 and $71,161 for the three months ended March 31, 2022 and 2021, respectively.