Intangible Assets

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [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, 2019
Licenses	$	462,234	$	428,953	$	33,281
Patents		1,893,185		1,893,185		-
Total	$	2,355,419	$	2,322,138	$	33,281
December 31, 2018
Licenses	$	462,234	$	415,371	$	46,863
Patents		1,893,185		1,893,185		-
Total	$	2,355,419	$	2,308,556	$	46,863

Amortization expense was $6,791 and $6,791 for the three months ended June 30, 2019 and 2018, respectively, and $13,582 and $13,507 for the six months ended June 30, 2019 and 2018, respectively.

Based on the balance of licenses and patents at June 30, 2019, future annual amortization expense is expected to be as follows:

	Amortization Expense
July 1 through December 31, 2019	$	13,582
2020	$	19,699

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