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INTANGIBLE ASSETS AND GOODWILL
 3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND GOODWILL

NOTE 10. INTANGIBLE ASSETS AND GOODWILL

 

The Company’s intangible assets at March 31, 2022 consisted of the following:

 

  

Amortization

Periods

(in years)

   Cost  

Accumulated

Amortization

   Impairment  

Net

Carrying Value

 
Patents   17-19    $972,000   $(97,000)  $-   $875,000 
Licenses   20    100,000    (15,000)   -    85,000 
Trademarks   Indefinite    260,000    -    -    260,000 
Acquired NDAs   10    13,635,000    (341,000)   -    13,294,000 
Customer relationships   3-15    1,519,000    (619,000)   -    900,000 
Trade name   5    5,000    (5,000)   -    - 
Non-competition clause   3-4    50,000    (50,000)   -    - 
State pharmacy licenses   25    8,000    (7,000)   -    1,000 
        $16,549,000   $(1,134,000)  $-   $15,415,000 

 

Amortization expense for intangible assets for the three months ended March 31, 2022 and 2021 was as follows:

 

   2022   2021 
   For the
Three Months Ended		 
   March 31, 
   2022   2021 
Patents  $22,000   $6,000 
Licenses   8,000    1,000 
Acquired NDAs   341,000    - 
Customer relationships   33,000    33,000 
Amortization of intangible assets  $404,000   $40,000 

 

Estimated future amortization expense for the Company’s intangible assets at March 31, 2022 is as follows:

 

      
Remainder of 2022  $1,194,000 
2023   1,592,000 
2024   1,592,000 
2025   1,592,000 
2026   1,595,000 
Thereafter   7,590,000 
Intangible assets  $15,155,000