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ROCHAL ASSET ACQUISITION (Tables) | 9 Months Ended
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Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
SCHEDULE OF TOTAL PURCHASE PRICE | SCHEDULE OF TOTAL PURCHASE PRICE
Description |  | Amount |
Net cash consideration |  | $ | 496,100 |
Equity consideration (fair value) |  |  | 584,244 |
Net liabilities assumed |  |  | 3,900 |
Transaction costs |  |  | 78,586 |
Total purchase consideration |  | $ | 1,162,830 |
SCHEDULE OF TOTAL PURCHASE CONSIDERATION FAIR VALUE OF SUCH ASSETS | The purchase consideration, plus transaction costs, was allocated to the individual assets according to their fair values as a percentage of the total fair value of the assets purchased, with no goodwill recognized. Based on the Company’s internal valuation performed, the total fair value of the net assets acquired was attributable to the intellectual property (i.e., patents, patent applications, and patent applications to be written) and assembled workforce. Due to the de minimis estimated fair value of furniture and equipment acquired, the Company did not allocate any amounts to such assets. The total purchase consideration was allocated based on the relative estimated fair value of such assets as follows: SCHEDULE OF TOTAL PURCHASE CONSIDERATION FAIR VALUE OF SUCH ASSETS
Description |  | Amount |
Patents and Intellectual Property |  | $ | 1,099,801 |
Assembled Workforce |  |  | 63,029 |
Net Assets Acquired |  | $ | 1,162,830 |

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