Annual report pursuant to Section 13 and 15(d)

PATENTS

v3.20.1
PATENTS
12 Months Ended
Dec. 31, 2019
PATENTS  
NOTE C - PATENTS

The Company s intangible assets at December 31, 2019 include patents with estimated remaining economic useful lives ranging from 0.25 to 14.75 years. For all periods presented, all the Company s patents were subject to amortization. The gross carrying amounts and accumulated amortization related to acquired intangible assets as of December 31, 2019 and 2018 were as follows:

 

 

2019

 

2018

 

Gross carrying amount

 

$

7,797,000

 

$

7,682,000

 

Accumulated amortization

 

(5,978,000

)

 

(5,693,000

)

Patents, net

 

$

1,819,000

 

$

1,989,000

 

Amortization expense for the years ended December 31, 2019 and 2018 was $285,000 and $290,000, respectively. Future amortization of current intangible assets, net is as follows:

 

For the years ended December 31,

 

2020

 

$

290,000

 

2021

 

290,000

 

2022

 

290,000

 

2023

 

217,000

 

2024 and thereafter

 

732,000

 

Total

 

$

1,819,000

 

The Company s Remote Power Patent expired on March 7, 2020. All patents within our Mirror Worlds Patent Portfolio and QoS Patents have expired. The expiration dates of the patents within the Cox Patent Portfolio range from September 2021 to November 2023. The expiration dates of patents within the Company s M2M/IoT Patent Portfolio range from September 2033 to May 2036.