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INTANGIBLE ASSETS AND GOODWILL (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS

The Company’s intangible assets at December 31, 2024 consisted of the following:

 

   Weighted-average              Net 
   useful life      Accumulated       Carrying 
   (in years)  Cost   amortization   Impairment   value 
Patents  19 years  $611,000   $(216,000)  $(253,000)  $142,000 
Licenses  20 years   50,000    (36,000)   -    14,000 
Trademarks  Indefinite   230,000    -    -    230,000 
Acquired NDAs  14 years   207,398,000    (22,962,000)   -    184,436,000 
Customer relationships  7 years   596,000    (542,000)   -    54,000 
Trade name  5 years   75,000    (7,000)   -    68,000 
Non-competition clause  4 years   50,000    (50,000)   -    - 
State pharmacy licenses  25 years   8,000    (3,000)   -    5,000 
      $209,018,000   $(23,816,000)  $(253,000)  $184,949,000 

 

The Company’s intangible assets at December 31, 2023 consisted of the following:

 

   Weighted-average              Net 
   useful life      Accumulated       Carrying 
   (in years)  Cost   amortization   Impairment   value 
Patents  19 years  $984,000   $(253,000)  $(276,000)  $455,000 
Licenses  20 years   100,000    (30,000)   (22,000)   48,000 
Trademarks  Indefinite   281,000    -    (82,000)   199,000 
Acquired NDAs  14 years   170,353,000    (11,300,000)   -    159,053,000 
Customer relationships  7 years   596,000    (516,000)   -    80,000 
Trade name  5 years   75,000    (5,000)   -    70,000 
Non-competition clause  4 years   50,000    (50,000)   -    - 
State pharmacy licenses  25 years   8,000    (7,000)   -    1,000 
      $172,447,000   $(12,161,000)  $(380,000)  $159,906,000 
SCHEDULE OF AMORTIZATION EXPENSES FOR INTANGIBLE ASSETS

  

Amortization expense for intangible assets for the years ended December 31, 2024 and 2023 were as follows:

 

   2024   2023 
   For the Years Ended December 31, 
   2024   2023 
Patents  $56,000   $84,000 
Licenses   35,000    7,000 
Acquired NDAs   11,669,000    9,937,000 
Customer relationships   22,000    54,000 
Trade name   1,000    - 
Amortization expense of intangible assets  $11,783,000   $10,082,000 
SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE

Estimated future amortization expense for the Company’s intangible assets at December 31, 2024 is as follows:

 

Years ending December 31,    
2025  $16,903,000 
2026   16,903,000 
2027   16,612,000 
2028   16,205,000 
2029   16,095,000 
Thereafter   102,001,000 
Intangible assets  $184,719,000