Intangibles

9 Months Ended

Sep. 30, 2022

Intangibles

Intangibles

11. Intangibles

Intangible assets are comprised of the following items:

	Licenses		Royalty Asset		Total
Balance December 31, 2020	$	8,341,142	$	68,276	$	8,409,418
Additions		10,190,458		—		10,190,458
Divestitures		(5,492,890)		—		(5,492,890)
Amortization		(817,215)		—		(817,215)
Impairment		(2,105,483)				(2,105,483)
Balance, December 31, 2021	$	10,116,012	$	68,276	$	10,184,288
Divestitures (Note 3)		—		(68,276)		(68,276)
Transfer to held for sale (Note 3)		(662,499)		—		(662,499)
Amortization		(516,800)		—		(516,800)
Balance, September 30, 2022	$	8,936,713	$	—	$	8,936,713

Amortization expense for intangibles was $172,267 and $516,800 during the three and nine months ended September 30, 2022, respectively, and $206,442 and $619,327 during the three and nine months ending September 30, 2021, respectively. Amortization expense is recorded in operating expenses on the unaudited condensed consolidated statements of net loss and comprehensive loss.

The Company estimates that amortization expense will be $639,069 per year for the next five fiscal years.