Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of intangible assets by major asset class

The following sets forth goodwill and intangible assets by major asset class:


		December 31, 2020						December 31, 2019
	Weighted Average Useful Life (Yrs)	Gross		Accumulated Amortization		Net Book Value		Gross		Accumulated Amortization		Net Book Value
Indefinite lived:
Goodwill(a)		$	10,513,371	$	—	$	10,513,371	$	10,513,371	$	—	$	10,513,371
Definite lived:

Licenses	10	1,323,761		(1,276,852)		46,909		1,323,761		(1,248,104)		75,657


Bioject (b)	12	5,100,000		(2,468,889)		2,631,111		5,100,000		(2,175,556)		2,924,444
Other (c)	18	4,050,000		(3,581,250)		468,750		4,050,000		(3,356,250)		693,750
Total intangible assets	11	10,473,761		(7,326,991)		3,146,770		10,473,761		(6,779,910)		3,693,851
Total goodwill and intangible assets		$	20,987,132	$	(7,326,991)	$	13,660,141	$	20,987,132	$	(6,779,910)	$	14,207,222

(a)Goodwill was recorded from the acquisition of other companies and assets.

(b)Bioject intangible assets represent the estimated fair value of developed technology and intellectual property which were recorded from an asset acquisition.

(c)Other intangible assets represent the estimated fair value of acquired intellectual property.

Schedule of finite-lived intangible assets, future amortization expense

Amortization expense related to intangible assets at December 31, 2020 is expected to be incurred as follows:


Year ending December 31,
2021	$	521,000
2022	493,000
2023	276,000
2024	253,000
2025	253,000
Thereafter	1,351,000
	$	3,147,000