Quarterly report pursuant to Section 13 or 15(d)

Patent Application Costs and Intangible Assets

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Patent Application Costs and Intangible Assets
3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Patent Application Costs and Intangible Assets

7. Patent Application Costs and Intangible Assets

 

The Company has applied for patents which it believes are a new, original and ornamental design for Oral Consumable Flakes. The patents use the methods of preparing solulizable, encapsulated plant-based compositions.

 

During the quarter ended March 31, 2019, the Company paid $135,546 in legal and associated costs for the multiple patent applications.

 

As the patents have not been issued as of March 31, 2019, no amortization has been applied against the patent costs. If the patents are approved, the Company will amortize the patent application costs over their useful lives. If the patents are not approved, the patent application costs will be expensed and charged against income.