Annual report pursuant to Section 13 and 15(d)

Other long-term assets (Tables)

v3.19.1
Other long-term assets (Tables)
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Other Long-Term Assets
Other long-term assets consisted of the following as of December 31, 2018 and December 31, 2017:
 
Cost:
 
December 31, 2018
   
December 31, 2017
 
  Patents
 
$
1,119,428
   
$
1,059,832
 
  Goodwill
   
-
     
1,186,496
 
  Convertible note investment
   
200,000
     
200,000
 
Total
   
1,319,428
     
2,446,328
 
                 
Accumulated amortization:
               
  Patents
   
(612,086
)
   
(550,183
)
Total
   
(612,086
)
   
(550,183
)
                 
Net other long-term assets
 
$
707,342
   
$
1,896,145
 
Schedule of Carrying Amounts Related to Acquired Intangible Assets
The carrying amounts related to acquired intangible assets as of December 31, 2018 and 2017 were as follows:
 
Patents at January 1, 2017, net
 
$
550,799
 
Additions
   
26,850
 
Less: amortization expense
   
68,000
 
Patents at December 31, 2017, net
   
509,649
 
Additions
   
59,597
 
Less: amortization expense
   
61,904
 
Patents at December 31, 2018, net
 
$
507,342
 
Schedule of Total Estimated Amortization of Intangible Assets
The following table represents the total estimated amortization of intangible assets for the five succeeding years and thereafter:

For the year ended December 31,
 
Estimated amortization expense
 
2019
 
$
58,000
 
2020
   
58,000
 
2021
   
58,000
 
2022
   
58,000
 
2023 and thereafter
   
275,342
 
Total
 
$
507,342