Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.21.2
Intangible Assets
6 Months Ended
Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 9: Intangible Assets

The following represents the balance of the intangible assets at June 30, 2021:

 

 

 

June 30, 2021

 

 

December 31, 2020

 

Asset resulting from R&D activities

 

$

26,400

 

 

$

26,400

 

Accumulated Amortization

 

 

(3,434

)

 

 

(2,146

)

Net intangible assets

 

$

22,966

 

 

$

24,254

 

 

Amortization expense for the three and six months ended June 30, 2021 was $644 and $1,288, respectively. Amortization expense for the three and six months ended June 30, 2020 was $644 and $859, respectively.

As of June 30, 2021, future amortization expense is as follows:

 

 

Amortization

 

Remainder of 2021

$

1,288

 

2022

 

2,576

 

2023

 

2,576

 

2024

 

2,576

 

2025 and thereafter

 

13,950

 

Total

$

22,966