million of the consideration to the patents held by ATI, which is included in our Patent licenses below and subject to amortization. Our patents generally have an expected useful life of

from the date the patent is applied for and are carried at cost less any accumulated amortization and any impairment losses. The Company also allocated $90,000 of the acquisition of ATI to its trade name.  This is a non-amortizable intangible asset with an indefinite life subject to any future impairment losses. Amortization is calculated using the straight-line method over their remaining patent life. The termination dates of our patents range from 2022 through 2040. Any future costs associated with the maintenance of these patents and patent and registration costs for any new patents that are essential to our business will be capitalized and amortized over the life of the patent once issued. Upon the Company’s acquisition of the Bakersfield Biorefinery, the Company acquired necessary permits for the operation of the facility. The permit cost of $1.9 million is amortized on a straight-line basis

Amortization expense for intangible assets were approximately $216,000 and $95,000 for the quarters ended June 30, 2021 and June 30, 2020, respectively and $305,000 and $156,000 for the six months ending June 30, 2021 and June 30, 2020, respectively. The estimated amortization expense for the next five years is expected to be approximately $660,000 annually.

In April of 2021, the Company acquired Agribody Technologies, Inc. (“ATI”).  As part of the acquisition the Company allocated approximately $1.4