INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2016

Patents [Member]

Finite-Lived Intangible Assets [Line Items]

Intangible assets

Intangible assets, net consisted of the following at September 30, 2016 and December 31, 2015:

Intangible assets – patents	September 30, 2016			December 31, 2015
Patent - Amlexanox (Aphthasol®)	$	2,090,000		$	2,090,000
Patent - Amlexanox (OraDisc™ A)		6,873,080			6,873,080
Patent - OraDisc™		73,000			73,000
Patent - Hydrogel nanoparticle aggregate		589,858			589,858
		9,625,938			9,625,938
Less: accumulated amortization		( 7,262,084	)		(6,905,397	)
Intangible assets - patents, net	$	2,363,854		$	2,720,541

Future aggregate amortization expense for intangible assets

The future aggregate amortization expense for intangible patent assets, remaining as of September 30, 2016, is as follows:

Calendar Years	Future Amortization Expense
2016 (Three months)	$	119,763
2017		475,148
2018		475,148
2019		475,148
2020		476,450
2021 & Beyond		342,197
Total	$	2,363,854

Licensing Rights [Member]

Finite-Lived Intangible Assets [Line Items]

Intangible assets

Licensing rights, net consisted of the following at September 30, 2016 and December 31, 2015:

Intangible assets - licensing rights	September 30, 2016			December 31, 2015
European Union, Australia, New Zealand, Middle East (excluding Jordan and Syria), North Africa, Albania, Bosnia, Croatia, Kosovo, Macedonia, Montenegro, and Serbia.	$	3,512,506		$	3,512,506
Less: accumulated amortization		(249,464	)		(6,271	)
Intangible assets - licensing rights, net	$	3,263,042		$	3,506,235

Future aggregate amortization expense for intangible assets

The future aggregate amortization expense for intangible licensing rights assets, remaining as of September 30, 2016, is as follows:

Calendar Years	Future Amortization Expense
2016 (Three months)	$	81,955
2017		325,148
2018		325,148
2019		325,148
2020		325,148
2021 & Beyond		1,880,495
Total	$	3,263,042