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Intangible Assets, Net and Goodwill (Tables)
12 Months Ended
Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

The Company’s intangible assets consisted of the following:

 

 

 

As of December 31, 2018

 

 

 

Estimated

Useful Lives

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Impairment

 

 

Net Book

Value

 

Internally developed patents

 

6 – 10 years

 

$

718,559

 

 

$

(317,172

)

 

$

 

 

$

401,387

 

Acquired licenses

 

16 – 20 years

 

 

285,000

 

 

 

(253,430

)

 

 

 

 

 

31,570

 

Total intangible assets subject to amortization

 

 

 

$

1,003,559

 

 

$

(570,602

)

 

$

 

 

$

432,957

 

IPR&D assets

 

Indefinite

 

 

37,868,978

 

 

 

 

 

 

(24,450,011

)

 

 

13,418,967

 

Total

 

 

 

$

38,872,537

 

 

$

(570,602

)

 

$

(24,450,011

)

 

$

13,851,924

 

 

 

 

December 31, 2017

 

 

 

Estimated

Useful Lives

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

Internally developed patents

 

6 – 10 years

 

$

678,340

 

 

$

(249,601

)

 

$

428,739

 

Acquired licenses

 

16 – 20 years

 

 

285,000

 

 

 

(237,340

)

 

 

47,660

 

Total intangible assets subject to amortization

 

 

 

$

963,340

 

 

$

(486,941

)

 

$

476,399

 

IPR&D assets

 

Indefinite

 

 

38,245,871

 

 

 

 

 

 

38,245,871

 

Total

 

 

 

$

39,209,211

 

 

$

(486,941

)

 

$

38,722,270

 

Schedule of Future Estimated Amortization Expense

As of December 31, 2018, future estimated amortization expense is as follows:

 

For the Year Ended December 31,

 

 

 

 

2019

 

$

59,377

 

2020

 

 

45,930

 

2021

 

 

25,371

 

2022

 

 

25,371

 

2023

 

 

25,371

 

2024 and thereafter

 

 

251,537

 

Total

 

$

432,957

 

Schedule of Changes in Carrying Amounts of IPR&D Assets and Goodwill

Changes in the carrying amounts of IPR&D assets and goodwill for the years ended December 31, 2018 and 2017 were:

 

 

 

IPR&D

 

 

Goodwill

 

Balance, January 1, 2017

 

$

14,477,019

 

 

$

18,758,421

 

Additions from the Mergers

 

 

22,389,000

 

 

 

15,573,822

 

Foreign currency translation adjustments

 

 

1,379,852

 

 

 

1,587,452

 

Impairment charges

 

 

 

 

 

(35,919,695

)

Balance, December 31, 2017

 

$

38,245,871

 

 

$

 

Additions

 

 

 

 

 

490,676

 

Foreign currency translation adjustments

 

 

(376,893

)

 

 

 

Impairment charges

 

 

(24,450,011

)

 

 

(490,676

)

Balance, December 31, 2018

 

$

13,418,967

 

 

$