Note 9 - Intangible Assets, Patents |
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Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] |
NOTE 9 — INTANGIBLE ASSETS, PATENTSPatents at September 30, 2018 and December 31, 2017 are comprised of the following:
Patents are amortized utilizing the straight-line method over estimated useful lives ranging from
3 to 20 years. At September 30, 2018, Milestone Scientific identified that the APAD Patents purchased in 2017, will not be developed (due to lack of financial resources) into marketable instruments in the near term. As such, Management has determined that these patents meet the accounting requirements for impairment. The impairment charge for the three and nine months ended September 30, 2018 was $1,539,794 .$332,071 and $151,845 for the three months ended September 30, 2018 and 2017, respectively. Amortization expense was $801,426 and $187,209 for the nine months ended September 30, 2018 and 2017, respectively. |