Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Patents

v3.20.2
Note 7 - Patents
9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]
NOTE
7
 — PATENTS
    
 
September 30, 2020
 
Cost
   
Accumulated Amortization
   
Net
 
Patents-foundation intellectual property
  $
1,377,863
    $
(1,035,362
)   $
342,501
 
Total
  $
1,377,863
    $
(1,035,362
)   $
342,501
 
 
December 31, 2019
 
Cost
   
Accumulated Amortization
   
Net
 
Patents-foundation intellectual property
  $
1,377,863
    $
(995,603
)   $
382,260
 
Total
  $
1,377,863
    $
(995,603
)   $
382,260
 
 
Patents are amortized utilizing the straight-line method over estimated useful lives ranging from
3
to
20
years. Amortization expense was approximately
$13,000
 and
$40,000
for the
three
and
nine
months ended
September 30, 2020,
respectively. Amortization expense was approximately
$13,000
 and
$40,000
for the
three
and
nine
months ended
September 30, 2019,
respectively.