Quarterly report pursuant to Section 13 or 15(d)

PATENTS

v3.19.3
PATENTS
9 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
NOTE C - PATENTS

The Company's intangible assets at September 30, 2019 include patents with estimated remaining economic useful lives ranging from 0.75 to 15.0 years.  For all periods presented, all of the Company's patents were subject to amortization.  The gross carrying amounts and accumulated amortization related to acquired intangible assets as of September 30, 2019 and December 31, 2018 were as follows:

 

    September 30, 2019     December 31, 2018  
Gross carrying amount – patents   $ 7,737,000     $ 7,682,000  
Accumulated amortization – patents     (5,905,000 )     (5,693,000 )
Patents, net   $ 1,832,000     $ 1,989,000  

  

Amortization expense for the three months ended September 30, 2019 and September 30, 2018 was $71,000 and $70,000, respectively.  Amortization expense for the nine months ended September 30, 2019 and September 30, 2018 was $212,000 and $209,000, respectively. Future amortization of intangible assets, net is as follows:

 

Twelve Months Ended September 30,  
2020   $ 285,000  
2021     285,000  
2022     285,000  
2023     240,000  
2024 and thereafter     737,000  
Total   $ 1,832,000  
         

 

The Company's Remote Power Patent expires in March 2020. The expiration date of the patent within the Company's Mirror Worlds Patent Portfolio is February 2020 (eight of the nine patents in the Mirror Worlds Patent Portfolio 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 2034 and the expiration date of the QoS Patents was June 2019.