Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS AND GOODWILL (Tables)

v3.21.2
INTANGIBLE ASSETS AND GOODWILL (Tables)
 9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Schedule of patent license assets
The
intangible
assets
as
of
September
30,
2021
and
December
31,
2020
is
shown
in
the
following
table:
 
 
 
September 30,
2021
 
 
December 31,
2020
 
Non-amortizable Intangible Assets
 
 
 
 
 
 
 
 
Trade Name
 
$
90,000
 
 
$
-
 
Amortizable Intangible Assets
 
 
 
 
 
 
 
 
Patent licenses
 
 
7,973,535
 
 
 
4,442,553
 
Refinery permits
 
 
1,921,082
 
 
 
1,921,082
 
Less accumulated amortization
 
 
(2,786,775
)
 
 
(2,182,889
)
Intangible Assets, Net
 
$
7,197,842
 
 
$
4,180,746
 
Schedule of estimated amortization expense
The estimated intangible asset amortization expense for the remainder of 2021 through 2027 and thereafter is as follows:
 
 
 
 
Estimated Amortization
Expense
 
October 1, 2021 through December 31, 2021
 
$
320,126
 
2022
 
1,113,118
 
2023
 
 
855,987
 
2024
 
 
726,135
 
2025
 
 
625,644
 
2026
 
 
610,359
 
2027 and Thereafter
 
 
2,946,473
 
Total
 
$
7,197,842