Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2021

Intangible Assets and Goodwill [Abstract]

Intangible Assets and Goodwill

Note 7 - Intangible Assets and Goodwill

Patents

Pursuant to the Mayoly APA entered into in March 2019 (see Note 15), in which the Company purchased all remaining rights, title and interest in and to adrulipase from Mayoly, the Company recorded Patents in the amount of approximately $3.8 million as follows:

Common stock issued at signing to Mayoly	$	1,740,959
Due to Mayoly at December 31, 2019		449,280
Due to Mayoly at December 31, 2020		393,120
Assumed Mayoly liabilities and forgiveness of Mayoly debt		1,219,386
	$	3,802,745

Intangible assets are as follows:

	December 31,
	2021			2020
Patents	$	3,802,745		$	3,802,745
Less accumulated amortization		(1,450,757	)		(923,209	)
Intangible asset impairment		(2,351,988	)		-
Patents, net	$	-		$	2,879,536

Amortization expense was approximately $528,000 for both years ended December 31, 2021, and 2020, respectively.

During the year ended December 31, 2021, the Company recorded impairment charges of approximately $2.4 million related to patents that the Company determined were no longer sufficient for the commercialization of adrulipase.

Goodwill is as follows:

	Goodwill
Balance on January 1, 2020	$	1,886,686
Foreign currency translation		167,362
Balance on December 31, 2020		2,054,048
Foreign currency translation		(142,343	)
Balance on December 31, 2021	$	1,911,705