Intangible Assets

12 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

5. 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 June 30, 2023 and 2022:

	June 30, 2023			June 30, 2022
Intellectual Property	$	2,293,770		$	2,293,770
Less Accumulated Amortization		(1,656,675	)		(1,427,298	)
Intellectual Property, Net	$	637,095		$	866,472

Amortization expense amounted to $229,377 for each of the years ended June 30, 2023 and 2022, respectively. The Company amortizes intellectual property over the expected original useful lives of 10 years.

Estimated future amortization expense is as follows:

Year ending June 30,
	2024	$	229,377
	2025		229,377
	2026		178,341
		$	637,095