Intangible Assets

6 Months Ended

Dec. 31, 2019

Related Party Transactions [Abstract]

Intangible Assets

4. Intangible Assets

The Company’s intangible assets consist of intellectual property acquired from LAT Pharma, Inc. and are amortized over their estimated useful lives. The following is a summary of the intangible assets as of December 31, 2019 and June 30, 2019:

	December 31, 2019			June 30, 2019
Intellectual Property	$	2,293,770		$	2,293,770
Less Accumulated Amortization		(853,855	)		(739,167	)
Intellectual Property, Net	$	1,439,915		$	1,554,603

Amortization expense for the three-month period ended December 31, 2019 and 2018 was $57,344 and $57,344 respectively Amortization expense for the six-month period ended December 31, 2019 and 2018 was $114,689 and $114,689 respectively.

Estimated future amortization expense is as follows:

Year ending June 30, 2020 (Remaining six months)	$                         114,689
2021	229,377
2022	229,377
2023	229,377
2024	229,377
2025	229,377
Thereafter	178,341
	$                      1,439,915