Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5 – INTANGIBLE ASSETS

SCHEDULE OF INTANGIBLE ASSETS


	September 30, 2022 (unaudited)
	Gross carrying amount		Accumulated amortization			Net carrying value

Goodwill	$	277,800	$	-		$	277,800
Customer list		42,500		(42,500	)		-
Technology		834,000		(767,000	)		67,000
Trade name		54,900		(54,900	)		-
	$	1,209,200	$	(864,400	)	$	344,800


	December 31, 2021
	Gross carrying amount		Accumulated amortization			Net carrying value

Goodwill	$	277,800	$	-		$	277,800
Customer list		42,500		(42,500	)		-
Technology		1,021,900		(880,400	)		141,500
Trade name		54,900		(54,900	)		-
	$	1,397,100	$	(977,800	)	$	419,300

The estimated useful lives of the intangible assets range from seven to twenty years. Amortization expense was $4,400 and $6,400 for the three months ended September 30, 2022, and 2021, respectively. Amortization expense was $15,500 and $22,400 for the nine months ended September 30, 2022, and 2021, respectively.