Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.20.2
Intangible Assets
9 Months Ended
Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

(9)

Intangible Assets

The following represents the balance of the intangible assets at September 30, 2020:

 

 

 

Cost

 

 

Accumulated Amortization

 

 

Net Intangible Assets

 

Asset resulting from R&D activities

 

$

26,400

 

 

$

1,502

 

 

$

24,898

 

Total

 

$

26,400

 

 

$

1,502

 

 

$

24,898

 

 

Amortization expense for the three and nine months ended September 30, 2020 was $643 and $1,502, respectively. There was no amortization expense for the three and nine months ended September 30, 2019.

As of September 30, 2020, future amortization expense is as follows:

 

 

Amortization

 

Remainder of 2020

$

644

 

2021

 

2,576

 

2022

 

2,576

 

2023

 

2,576

 

2024 and thereafter

 

16,526

 

Total

$

24,898