v3.24.1.1.u2
INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS

Intangible assets consist of the following:

 

   Patents and Trademarks   Licenses   Accumulated Amortization   Total 
Balance as of January 1, 2022  $3,676   $1,301,500   $(715,436)  $589,740 
Considertion transferred for license exclusivity   -    292,030    -    292,030 
Amortization expense   -    -    (78,332)   (78,332)
Balance as of December 31, 2022   3,676    1,593,530    (793,768)   803,438 
Amortization expense   -    -    (89,746)   (89,746)
Balance as of December 31, 2023  $3,676   $1,593,530   $(883,514)  $713,692 
Weighted average remaining amortization period at December 31, 2023 (in years)   -    10.9           
SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS AMORTIZATION EXPENSES

Amortization of intangible assets consists of the following:

 

   Patents and Trademarks   Licenses   Accumulated Amortization 
Balance as of January 1, 2022  $3,676   $711,760   $715,436 
Amortization expense   -    78,332    78,332 
Balance as of December 31, 2022   3,676    790,092    793,768 
Amortization expense   -    89,746    89,746 
Balance as of December 31, 2023  $3,676   $879,838   $883,514 
SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS FUTURE AMORTIZATION EXPENSES

Amortization expense for the next five years is as follows:

 

For the Years Ending December 31,  Total 
2024  $89,746 
2025   89,746 
2026   89,746 
2027   89,746 
2028   89,746 
 Total  $448,730