Intangible Assets

3 Months Ended

Sep. 30, 2020

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 September 30, 2020 and June 30, 2020:

	September 30, 2020			June 30, 2020
Intellectual Property	$	2,293,770		$	2,293,770
Less Accumulated Amortization		(1,025,888	)		(968,544	)
Intellectual Property, Net	$	1,267,882		$	1,325,226

Amortization expense for the three-month period ended September 30, 2020 and 2019 was $57,344 and $57,344 respectively.

Estimated future amortization expense is as follows:

Year ending June 30, 2021 (Remaining nine months)	$                         172,032
2022	229,377
2023	229,377
2024	229,377
2025	229,377
2026	178,342
	$                      1,267,882