Intellectual Property (Details Narrative) |
3 Months Ended | 9 Months Ended | ||
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Sep. 30, 2018
USD ($)
Integer
shares
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Sep. 30, 2017
USD ($)
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Sep. 30, 2018
USD ($)
Integer
shares
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Sep. 30, 2017
USD ($)
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Estimated useful life of patents | 15 years | |||
Amortization of EERCF patents | $ 50,300 | $ 49,310 | $ 150,900 | $ 83,833 |
Estimated amortization cost for 2019 | 200,000 | 200,000 | ||
Estimated amortization cost for 2020 | 200,000 | 200,000 | ||
Estimated amortization cost for 2021 | 200,000 | 200,000 | ||
Estimated amortization cost for 2022 | 200,000 | 200,000 | ||
Estimated amortization cost for 2023 | $ 200,000 | $ 200,000 | ||
Sublicense income payment description | <p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company was required to pay EERCF 35% of all sublicense income received by the Company, excluding royalties on sales by sublicensees. Sublicense income is payable by the Company within 30 day after the end of each calendar year to the licensor.</font></p> | |||
Term of running royalties | 30 days | |||
Term of sublicense income | 30 days | |||
On April 24, 2017 [Member] | ||||
Shares issued | shares | 925,000 | 925,000 | ||
Payable at option | $ 2,500,000 | $ 2,500,000 | ||
On April 24, 2017 [Member] | EERCF [Member] | ||||
Shares issued | shares | 628,998 | 628,998 | ||
Number of patent applications | Integer | 42 | 42 | ||
On April 24, 2017 [Member] | Inventors designated by EERCF [Member] | ||||
Shares issued | shares | 296,002 | 296,002 |
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- Definition Term of running royalties. No definition available.
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- Definition Term of sublicense income. No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amortized cost of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date, maturing in sixth fiscal year through tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amortized cost of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date, maturing in second through fifth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amortized cost of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date, maturing after tenth fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amortized cost of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amortized cost of investment in debt security measured at fair value with change recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date, maturing in next fiscal year following latest fiscal year. Excludes interim and annual periods when interim period is reported on rolling approach, from latest statement of financial position date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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