XML 86 R11.htm IDEA: XBRL DOCUMENT
v3.20.1

6. INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | The carrying values of the Company’s finite-lived intangible assets are as follows:
|  | Successor |  |  | Successor |
|  | As of December 31, 2019 |  |  | As of December 31, 2018 |
|  |  |  |  | Accumulated |  |  |  |  |  |  |  |  | Accumulated |  |  |  |
|  | Cost |  |  | Amortization |  |  | Net |  |  | Cost |  |  | Amortization |  |  | Net |
Product Licenses |  | $ | 1,500,000 |  |  | $ | (48,876 | ) |  | $ | 1,451,124 |  |  |  | - |  |  |  | - |  |  |  | - |
Patent |  |  | 510,310 |  |  |  | (510,310 | ) |  |  | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Software & Other |  |  | 64,464 |  |  |  | (44,394 | ) |  |  | 20,070 |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 2,074,774 |  |  | $ | (603,580 | ) |  | $ | 1,471,194 |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Cash expenditures for intangible assets acquired in 2019 totaled $1,522,485. This included product licenses of $1,000,000 for BIAKŌS™ Antimicrobial Wound Gel and Antimicrobial Skin and Wound Cleanser, and $500,000 for BIAKŌS™ Antimicrobial Barrier Film and Curashield™ No Sting Skin Protectant. The Company amortizes its intangible assets on a straight-line basis over the useful life of the respective assets. Product licenses are amortized over the lives of the related patents. The BIAKŌS™ patents expire in December 2031 and October 2033. Other expenditures in 2019 for intangible assets included $22,485 for website development and computer software. Intangible assets also include a patent acquired in 2009 with a historical cost of $510,310. The patent was amortized over its estimated useful life of 10 years using the straight-line method. Amortization expense related to intangible assets was $90,011, $0 and $43,349 for the year ended December 31, 2019 (Successor), and for the periods August 28, 2018 through September 30, 2018 (Successor) and January 1, 2018 through August 27, 2018 (Predecessor), respectively. The following table outlines the estimated amortization expense related to intangible assets held at December 31, 2019:
Year Ending December 31, |  | Amount |
2020 |  | $ | 122,998 |
2021 |  |  | 122,998 |
2022 |  |  | 120,583 |
2023 |  |  | 115,503 |
2024 |  |  | 115,503 |
Thereafter |  |  | 873,609 |
Total |  | $ | 1,471,194 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration