Intangible Assets

12 Months Ended

Dec. 31, 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
December 31, 2019
Licenses	$	462,234	$	442,535	$	19,699
Patents		1,893,185		1,893,185		-
Total	$	2,355,419	$	2,335,720	$	19,699
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 $27,164 and $27,089 in 2019 and 2018, respectively.

Based on the balance of licenses and patents at December 31, 2019, future annual amortization expense is expected to be $19,699 during the year ending December 31, 2020.

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