Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.21.1
Intangible Assets
3 Months Ended
Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 9:

Intangible Assets

The following represents the balance of the intangible assets at March 31, 2021:

 

 

 

Cost

 

 

Accumulated Amortization

 

 

Net Intangible Assets

 

Asset resulting from R&D activities

 

$

26,400

 

 

$

2,790

 

 

$

23,610

 

Total

 

$

26,400

 

 

$

2,790

 

 

$

23,610

 

 

Amortization expense for the three months ended March 31, 2021 and 2020 was $644 and $215, respectively.

As of March 31, 2021, future amortization expense is as follows:

 

 

Amortization

 

Remainder of 2021

$

1,932

 

2022

 

2,576

 

2023

 

2,576

 

2024

 

2,576

 

2025 and thereafter

 

13,950

 

Total

$

23,610