Quarterly report pursuant to Section 13 or 15(d)

Intellectual Property

Intellectual Property

9 Months Ended

Sep. 30, 2023

Note 6 - Intellectual Property

License and patent costs capitalized as of September 30, 2023 and December 31, 2022 are as follows:

	September 30,			December 31,
	2023			2022
Licenses and patents	$	3,068,995		$	3,068,995
Less: Accumulated amortization		(1,312,848	)		(1,159,398	)
Intellectual property, net	$	1,756,147		$	1,909,597

Amortization expense for the three months ended September 30, 2023 and 2022 was $51,150 and $51,150, respectively. Amortization expense for the nine months ended September 30, 2023 and 2022 was $153,450 and $153,450, respectively. Estimated annual amortization for each of the next five years is $204,600.