v3.24.0.1
Intangible Assets
 9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Intangible Assets [Abstract]    
INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

 

The Company’s intangible assets include the following on September 30, 2023:

 

   Cost Basis   Accumulated
Amortization		   Net 
Proprietary Technology  $321,000   $(294,250)  $26,750 
Total Intangible Assets  $321,000   $(294,250)  $26,750 

 

The Company’s intangible assets include the following on December 31, 2022:

 

   Cost Basis   Accumulated
Amortization		   Net 
Proprietary Technology  $321,000   $(214,000)  $107,000 
Total Intangible Assets  $321,000   $(214,000)  $107,000 

 

Amortization expense was $26,750 and $26,750 for the three months ended September 30, 2023 and 2022, respectively. Amortization expense was $80,250 and $80,250 for the nine months ended September 30, 2023 and 2022, respectively. None of the Company’s intangible assets serve as collateral against any loans as of September 30, 2023 and December 31, 2022. The Company’s proprietary technology is being amortized over its estimated useful life of three years.

NOTE 6 – INTANGIBLE ASSETS

 

The Company’s intangible assets include the following on December 31, 2022:

 

   Cost Basis   Accumulated
Amortization		   Net 
Proprietary Technology  $321,000   $(214,000)  $107,000 
Total Intangible Assets  $321,000   $(214,000)  $107,000 

 

The Company’s intangible assets include the following on December 31, 2021:

 

   Cost Basis   Accumulated
Amortization		   Net 
Proprietary Technology  $321,000   $(107,000)  $214,000 
Total Intangible Assets  $321,000   $(107,000)  $214,000 

 

Amortization expense was $107,000 and $107,000 for the years ended December 31, 2022 and 2021, respectively. None of the Company’s intangible assets serve as collateral against any loans as of December 31, 2022 and 2021. The Company’s proprietary technology is being amortized over its estimated useful life of three years.