Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

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


		June 30, 2022						December 31, 2021
	Weighted Average Useful Life (Yrs)	Gross		Accumulated Amortization		Net Book Value		Gross		Accumulated Amortization		Net Book Value
Indefinite lived:
Goodwill		$	10,513,371	$	—	$	10,513,371	$	10,513,371	$	—	$	10,513,371
Definite lived:

Licenses	10	1,323,761		(1,323,761)		—		1,323,761		(1,305,600)		18,161


Bioject(a)	12	5,100,000		(2,862,222)		2,237,778		5,100,000		(2,735,556)		2,364,444
Other(b)	18	4,050,000		(3,918,750)		131,250		4,050,000		(3,806,250)		243,750
Total intangible assets	11	10,473,761		(8,104,733)		2,369,028		10,473,761		(7,847,406)		2,626,355
Total goodwill and intangible assets		$	20,987,132	$	(8,104,733)	$	12,882,399	$	20,987,132	$	(7,847,406)	$	13,139,726

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

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

Aggregate amortization expense on intangible assets for the three and six months ended June 30, 2022 was $131,000 and $257,000, respectively. Aggregate amortization expense on intangible assets for the three and six months ended June 30, 2021 was $130,000 and $267,000, respectively. Estimated aggregate amortization expense is $239,000 for the remainder of fiscal year 2022, $272,000 for 2023, $253,000 for 2024, $253,000 for 2025, $253,000 for 2026 and $1.1 million for 2027 and subsequent years combined. There were no impairment or impairment indicators present and no losses were recorded during the three and six months ended June 30, 2022 or 2021.