Intangible Assets

6 Months Ended

Jun. 30, 2018

Intangible Assets [Abstract]

Intangible Assets

Note 3. Intangible Assets

The following is a summary of intangible assets which consists of licenses and patents:

	Cost		Accumulated Amortization		Net Book Value
June 30, 2018
Licenses	$	462,234	$	401,789	$	60,445
Patents		1,893,185		1,893,185		-
Total	$	2,355,419	$	2,294,974	$	60,445
December 31, 2017
Licenses	$	462,234	$	388,282	$	73,952
Patents		1,893,185		1,893,185		-
Total	$	2,355,419	$	2,281,467	$	73,952

Amortization expense was $6,791 and $15,509 for the three months ended June 30, 2018 and 2017, respectively, and $13,507 and $30,847 for the six months ended June 30, 2018 and 2017, respectively.

Based on the balance of licenses and patents at June 30, 2018, future amortization expense is expected to be as follows:

	Amortization Expense
July 1 thru December 31, 2018	$	20,389
2019	$	40,056

License fees and royalty payments are expensed as incurred as the Company does not attribute any future benefits to such payments.