Registration of securities issued in business combination transactions

Intangible Assets

v3.23.2
Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

Note 5 — Intangible Assets

Intangible assets consist of the following:

 

As of December 31,
   

2022

  

2021

Intangible assets: patents

  

$

23,963

 

  

$

23,963

 

Less: amortization

  

 

(5,880

)

  

 

(4,654

)

Total intangible assets, net

  

$

18,083

 

  

$

19,309

 

Amortization expense for each of the years ended December 31, 2022 and 2021 was $1,226 and $1,125, respectively.

The Company will recognize intangible amortization expense of $1,226 in each of the next five years. Thereafter, amortization expense will total approximately $12.0 thousand.