Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

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


		June 30, 2023								December 31, 2022
	Weighted Average Useful Life (Yrs)	Gross		Accumulated Amortization		Impairment		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)		—


Bioject(a)	12	5,100,000		(3,115,556)		(1,984,444)		—		5,100,000		(2,988,889)		2,111,111
Other(b)	18	4,050,000		(4,050,000)		—		—		4,050,000		(4,031,250)		18,750
Total intangible assets	11	9,150,000		(7,165,556)		(1,984,444)		—		10,473,761		(8,343,900)		2,129,861
Total goodwill and intangible assets		$	19,663,371	$	(7,165,556)	$	(1,984,444)	$	10,513,371	$	20,987,132	$	(8,343,900)	$	12,643,232

(a)Bioject intangible assets represented 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, 2023 was $2.0 million and $2.1 million, respectively. Aggregate amortization expense on intangible assets for the three and six months ended June 30, 2022 was $131,000 and $257,000, respectively. During the three months ended June 30, 2023, the Company recorded an impairment charge of $2.0 million to research and development expense for the remaining intangible assets related to the Bioject acquisition, as it was determined that there are no current plans to develop or utilize this technology based on the latest Company strategy. There were no other impairment or impairment indicators present during the three and six months ended June 30, 2023. No losses were recorded during the three and six months ended June 30, 2022.