Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5 – INTANGIBLE ASSETS

Intangible assets were comprised of the following:

	June 30, 2019
	Gross carrying amount		Accumulated amortization			Net carrying value
Goodwill	$	277,800	$	—		$	277,800
Customer list		42,500		(42,500	)		—
Technology		1,021,900		(803,300	)		218,600
Trade name		54,900		(54,900	)		—
	$	1,397,100	$	(900,700	)	$	496,400

	December 31, 2018
	Gross carrying amount		Accumulated amortization			Net carrying value
Goodwill	$	277,800	$	—		$	277,800
Customer list		42,500		(42,500	)		—
Technology		1,021,900		(782,900	)		239,000
Trade name		54,900		(54,900	)		—
	$	1,397,100	$	(880,300	)	$	516,800

The estimated useful lives of the intangible assets range from seven to ten years. Amortization expense was $8,800 and $24,800 for the three months ended June 30, 2019 and 2018, respectively. Amortization expense was $20,400 and $52,400 for the six months ended June 30, 2019 and 2018, respectively.