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INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | NOTE 6 – INTANGIBLE ASSETS The carrying values of the Company’s intangible assets were as follows for the periods presented: SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS
|  | September 30, 2022 |  |  | December 31, 2021 |
|  |  |  |  | Accumulated |  |  |  |  |  |  |  |  | Accumulated |  |  |  |
|  | Cost |  |  | Amortization |  |  | Net |  |  | Cost |  |  | Amortization |  |  | Net |
Amortizable Intangible Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product Licenses |  | $ | 4,793,879 |  |  | $ | (872,073 | ) |  | $ | 3,921,806 |  |  | $ | 4,193,879 |  |  | $ | (586,541 | ) |  | $ | 3,607,338 |
Patents and Other IP |  |  | 21,935,580 |  |  |  | (1,185,294 | ) |  |  | 20,750,286 |  |  |  | 1,610,111 |  |  |  | (551,285 | ) |  |  | 1,058,826 |
Customer relationships and other |  |  | 7,947,332 |  |  |  | (402,242 | ) |  |  | 7,545,090 |  |  |  | 127,492 |  |  |  | (65,686 | ) |  |  | 61,806 |
Total |  | $ | 34,676,791 |  |  | $ | (2,459,609 | ) |  | $ | 32,217,182 |  |  | $ | 5,931,482 |  |  | $ | (1,203,512 | ) |  | $ | 4,727,970 |
In May 2020, the Company executed a product license agreement with Rochal, pursuant to which the Company acquired an exclusive world-wide license to market, sell and further develop a debrider for human medical use to enhance skin condition or treat or relieve skin disorders, excluding uses primarily for beauty, cosmetic, or toiletry purposes. Pursuant to the agreement, at the time Rochal issues a purchase order to its contract manufacturer for the first good manufacturing practice run of the licensed products, the Company is obligated to pay Rochal $600,000 in cash. This milestone was achieved during the second quarter of 2022 and, as a result, the Company recorded an addition to intangible assets. This payment was made in July 2022, and accordingly, the associated payable was recorded at June 30, 2022. In March 2021, the Company issued 20,834 shares of its common stock to Rochal, for a $750,000 milestone payment required per the terms of a licensing agreement with Rochal. The payment became due upon the Company’s public offering of common stock in February 2021. The milestone payment was recorded as an addition to intangible assets. As of September 30, 2022, the weighted-average amortization period for finite-lived intangible assets was 14.3 years. Amortization expense related to intangible assets was $708,534 and $112,162 for the three months ended September 30, 2022 and 2021 and $1,256,097 and $268,520 for the nine months ended September 30, 2022 and 2021. The estimated remaining amortization expense as of September 30, 2022 for finite-lived intangible assets is as follows: SCHEDULE OF FUTURE AMORTIZATION EXPENSE
Remainder of 2022 |  | $ | 695,201 |
2023 |  |  | 2,780,806 |
2024 |  |  | 2,780,806 |
2025 |  |  | 2,780,806 |
2026 |  |  | 2,763,550 |
2027 |  |  | 2,649,698 |
Thereafter |  |  | 17,766,315 |
Total |  | $ | 32,217,182 |
The Company has reviewed the carrying value of intangible assets and has determined there was no impairment during either of the nine months ended September 30, 2022 or 2021.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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