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Intangible Assets
9 Months Ended
Oct. 31, 2017
Intangible Assets [Abstract]  
INTANGIBLE ASSETS
7. INTANGIBLE ASSETS

 

In May 2017, the Company acquired the rights, title and interest in Transdermal Patch and Formulation. As of October 31, 2017, the Company has not recognized any income or cash flow from the use of the patents. The patents are provisional patents and the Company will have one year from the date of issue to finalize the applications. The Company will continue its plans to utilize the patents. The patents are amortized over its useful life of 10 years.

 

The components of intangible assets are as follows:

  

  Patents      
  Balance February 1, 2017   $ -  
           
  Acquisition of patents in 2017     2,500,000  
           
  Amortization for the period ended October 31, 2017     (110,445 )
           
  Balance October 31, 2017   $ 2,389,555