Intangible Assets and Goodwill

2020,

in accordance with ASC

350,

the Company performed a qualitative analysis, which determined that it was

not

more likely than

not

that the fair value of the reporting units or significant inputs used to determine the fair value of the intangible assets was less than the carrying value of the goodwill and intangible assets recorded on the Company's books as of

December 31, 2020.

As a result,

impairment was recorded and a quantitative analysis was

not

performed. In performing the

2019

assessment, the Company used current market capitalization, discounted future cash flows, internal forecasts and other factors as the best evidence of fair value. These assumptions represent Level

inputs. The intangible assets and goodwill recorded on the Company's Balance Sheet at

December 31, 2020

relate to the Company's asset acquisition of SynGen, Inc. in

2017.

	Intangible Assets			Goodwill

Balance at December 31, 2018, net	$	1,591,000		$	781,000

Amortization and foreign exchange		(124,000	)		--

Balance at December 31, 2019, net	$	1,467,000		$	781,000

Amortization and foreign exchange		(109,000	)		--

Balance at December 31, 2020, net	$	1,358,000		$	781,000

Intangible assets consist of the following based on the Company's determination of the fair value of identifiable assets acquired:

	As of December 31, 2020
	Weighted Average Amortization Period (in Years)	Gross Carrying Amount		Accumulated Amortization		Impairment		Net
Trade names	3	$	52,000	$	52,000	$	--	$	--
Developed technology	10		318,000		111,000		--		207,000
Licenses	7		432,000		424,000		--		8,000
Device registration	7		66,000		66,000		--		--
Customer relationships	3		442,000		442,000		--		--
Amortizable intangible assets			1,310,000		1,095,000		--		215,000
In process technology			1,143,000		--		--		1,143,000
Total		$	2,453,000	$	1,095,000	$	--	$	1,358,000

	As of December 31, 2019
	Weighted Average Amortization Period (in Years)	Gross Carrying Amount		Accumulated Amortization		Impairment		Net
Trade names	3	$	53,000	$	45,000	$	--	$	8,000
Developed technology	10		318,000		79,000		--		239,000
Licenses	7		437,000		367,000		--		70,000
Device registration	7		66,000		66,000		--		--
Customer relationships	3		443,000		436,000		--		7,000
Amortizable intangible assets			1,317,000		993,000		--		324,000
In process technology			1,143,000		--		--		1,143,000
Total		$	2,460,000	$	993,000	$	--	$	1,467,000

The change in the gross carrying amount is due to foreign currency exchange fluctuations. Amortization of intangible assets was

$109,000

for the year ended

December 31, 2020

and

$124,000

for the year ended

December 31, 2019.

In process technology has

not

yet been introduced to the market place and is therefore

not

yet subject to amortization. The Company's estimated future amortization expense for amortizable intangible assets in subsequent years, are as follows:

Year Ended December 31,
2021	$	40,000
2022		32,000
2023		32,000
2024		32,000
2025		32,000
Thereafter		47,000
Total	$	215,000