Annual report pursuant to Section 13 and 15(d)

Note 6 - Patents

v3.19.1
Note 6 - Patents
12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]
Note
6.
Patents
The Company holds patents related to its stem cell and small molecule technologies. Patent costs are capitalized and are being amortized over the life of the patents. The weighted average remaining unamortized life of issued patents was approximately
9.3
years at
December 31, 2018.
Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset
may
not
be recoverable. The carrying amount of a long-lived asset is
not
recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. During the years ended
December 31, 2018
and
2017,
no
significant impairment losses were recognized.
The Company’s intangible assets and accumulated amortization consisted of the following at
December 31, 2018
and
2017:
 
    2018   2017
Patent asset   $
2,006,443
    $
2,028,557
 
Accumulated amortization    
(1,242,900
)    
(1,145,095
)
Net intangibles   $
763,543
    $
883,462
 
 
Amortization expense for the years ended
December 31, 2018
and
2017
was approximately
$102,000
and
$189,000,
respectively. The expected average future annual amortization expense over the next
five
years is approximately
$
80,000
based on current balances of our intangible assets.