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Note 5 - Intangible Assets

9 Months Ended

Sep. 30, 2023

Intangible Assets Disclosure [Text Block]

NOTE 5 – INTANGIBLE ASSETS

Finite-lived Intangible Assets

The components of intangible assets were as follows:

	As of September 30, 2023							As of December 31, 2022
	Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount		Gross Carrying Costs		Accumulated Amortization			Impairment			Net Carrying Amount
Patents & Trademarks	$	535,096	$	(275,776	)	$	259,320	$	509,141	$	(255,276	)	$	-		$	253,865
Developed Technology		-		-			-		3,500,000		(386,459	)		(3,113,541	)		-
Customer Relationships		-		-			-		200,000		(22,083	)		(177,917	)		-
Tradename		-		-			-		80,000		(22,083	)		(57,917	)		-
Total	$	535,096	$	(275,776	)	$	259,320	$	4,289,141	$	(685,901	)	$	(3,349,375	)	$	253,865

Amortization expense, recorded within general and administrative expenses, was $6,863 and $103,805 during the three months ended September 30, 2023 and 2022, respectively, and $20,563 and $310,695 during the nine months ended September 30, 2023 and 2022, respectively.

The following table outlines the estimated future amortization expense related to intangible assets held as of September 30, 2023:

Year ending December 31,	Expense
Remainder of 2023	$	6,863
2024		27,451
2025		27,451
2026		27,451
2027		27,451
Thereafter		142,653
Total	$	259,320

The Company recognized no impairment of its finite-lived intangible assets during the three and nine months ended September 30, 2023 and 2022.

Goodwill

As of September 30, 2022, the Company concluded that the goodwill acquired in connection with the acquisition of zPREDICTA Inc., the Company’s former wholly owned subsidiary, was fully impaired and recognized an impairment loss on goodwill of $7,231,093 during the nine months then ended. As of September 30, 2023, the cumulative impairment of goodwill recorded was $7,231,093.

The goodwill acquired by the Company in connection with the acquisition of Helomics was zero as of both September 30, 2023 and December 31, 2022. The cumulative impairment of goodwill recorded was $23,790,290.