Annual report pursuant to Section 13 and 15(d)

PATENTS

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PATENTS
12 Months Ended
Dec. 31, 2020
PATENTS  
NOTE C - PATENTS

The Company’s intangible assets at December 31, 2020 include patents with estimated remaining economic useful lives ranging from 0.75 to 12.75 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, 2020 and 2019 were as follows:

  

   

2020

   

2019

 
Gross carrying amount   $ 7,848,000     $ 7,797,000  
Accumulated amortization     (6,270,000 )     (5,978,000 )
Patents, net   $ 1,578,000     $ 1,819,000  
                 

 

Amortization expense for the years ended December 31, 2020 and 2019 was $292,000 and $285,000, respectively. Future amortization of current intangible assets, net is as follows:

For the years ended December 31,        
  2021     $ 294,000  
  2022       294,000  
  2023       230,000  
  2024       83,000  
  2025 and thereafter       677,000  
  Total     $ 1,578,000  
             

 

The Company’s Remote Power Patent expired on March 7, 2020. All patents within our Mirror Worlds Patent Portfolio and QoS Patents have also 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 2034.