| Schedule of Intangible Assets |
Intangible assets consist
of the following as of December 31, 2023 and 2022:
| |
|
Weighted
Average
Remaining
Amortization
Period |
|
|
As of December 31, 2023 |
|
|
As of December 31, 2022 |
|
| |
|
in Years at
December 31,
2023 |
|
|
Gross
Asset
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Value |
|
|
Gross
Asset
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Value |
|
| Licensed patents |
|
|
11.4 |
|
|
$ |
599,686 |
|
|
$ |
(174,552 |
) |
|
$ |
425,134 |
|
|
$ |
596,259 |
|
|
$ |
(142,654 |
) |
|
$ |
453,605 |
|
| Technology license |
|
|
15.6 |
|
|
|
1,562,744 |
|
|
|
(368,308 |
) |
|
|
1,194,436 |
|
|
|
1,485,159 |
|
|
|
(279,906 |
) |
|
|
1,205,253 |
|
| |
|
|
|
|
|
$ |
2,162,430 |
|
|
$ |
(542,860 |
) |
|
$ |
1,619,570 |
|
|
$ |
2,081,418 |
|
|
$ |
(422,560 |
) |
|
$ |
1,658,858 |
|
|
| Schedule of Future Amortization Related to Intangible Assets |
Future amortization related
to intangible assets is as follows:
| For the Years Ending December 31, |
|
|
|
| 2024 |
|
$ |
113,793 |
|
| 2025 |
|
|
113,793 |
|
| 2026 |
|
|
113,793 |
|
| 2027 |
|
|
113,793 |
|
| 2028 |
|
|
113,793 |
|
| Thereafter |
|
|
1,050,606 |
|
| |
|
$ |
1,619,571 |
|
|
| Schedule of Goodwill Activity |
The following is a summary
of goodwill activity for the year ended December 31, 2022 for the Company’s single reporting unit, which includes the recorded losses
on goodwill impairment described above.
| |
|
CBR
Pharma
Goodwill |
|
|
180 LP
Goodwill |
|
|
Consolidated
Goodwill |
|
| Balance, January 1, 2022 |
|
$ |
23,749,631 |
|
|
$ |
13,238,255 |
|
|
$ |
36,987,886 |
|
| Currency translation |
|
|
(3,440,608 |
) |
|
|
- |
|
|
|
(3,440,608 |
) |
| Impairment of goodwill |
|
|
(20,309,023 |
) |
|
|
(13,328,255 |
) |
|
|
(33,547,278 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance, December 31, 2022 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
CBR
Pharma IP
R&D Assets |
|
|
180 LP IP
R&D
Assets |
|
|
Consolidated
IP R&D
Assets |
|
| Balance, January 1, 2022 |
|
$ |
1,632,780 |
|
|
$ |
10,943,000 |
|
|
$ |
12,575,780 |
|
| Currency translation |
|
|
(170,696 |
) |
|
|
- |
|
|
|
(170,696 |
) |
| Impairment of IP R&D assets |
|
|
(1,462,084 |
) |
|
|
(1,880,000 |
) |
|
|
(3,342,084 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance, December 31, 2022 |
|
|
- |
|
|
|
9,063,000 |
|
|
|
9,063,000 |
|
| Impairment of IP R&D assets |
|
|
- |
|
|
|
(9,063,000 |
) |
|
|
(9,063,000 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance, December 31, 2023 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|