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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

The Company’s intangible assets consisted of the following:

 

 

 

September 30, 2019

 

 

 

Estimated

Useful

Lives

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Impairment

 

 

Net Book

Value

 

Internally developed patents

 

6-10 years

 

$

743,956

 

 

$

(440,994

)

 

$

 

 

$

302,962

 

Acquired licenses

 

16-20 years

 

 

285,000

 

 

 

(265,273

)

 

 

 

 

 

19,727

 

Total intangible assets subject to amortization

 

 

 

 

1,028,956

 

 

 

(706,267

)

 

 

 

 

 

322,689

 

IPR&D assets

 

Indefinite

 

 

13,418,967

 

 

 

 

 

 

(1,000,000

)

 

 

12,418,967

 

Total

 

 

 

$

14,447,923

 

 

$

(706,267

)

 

$

(1,000,000

)

 

$

12,741,656

 

 

 

 

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

 

Schedule of Future Estimated Amortization Expense

As of September 30, 2019, future estimated amortization expense was as follows:

 

Years ending December 31,

 

 

 

 

The remainder of 2019

 

$

11,570

 

2020

 

 

41,589

 

2021

 

 

25,375

 

2022

 

 

25,375

 

2023

 

 

25,375

 

2024 and thereafter

 

 

193,405

 

Total

 

$

322,689