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Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets

Intangible assets and Goodwill consisted of the following at December 31:

						2019						2018
Product and license rights						$	37,400,742					$	36,573,941
Less: accumulated amortization						(11,499,141)						(8,405,188)
Total product and license rights						25,901,601						28,168,753
Patents						9,882,511						9,428,266
Less: accumulated amortization						(5,127,878)						(4,087,273)
Total patents						4,754,633						5,340,993
Trademarks						273,110						154,373
Less: accumulated amortization						(9,020)						(9,020)
Total trademarks						264,090						145,353
Total intangible assets						$	30,920,324					$	33,655,099
Goodwill						$	882,000					$	784,000

Schedule of expected amortization expense of intangible assets

Amortization expense related to product and license rights, trademarks and patents were as follows for the years ended December 31:

						2019						2018						2017
Amortization expense						$	4,134,557					$	2,769,466					$	2,436,222

The expected amortization expense for the Company's current balance of intangible assets are as follows:

Year ending December 31:
2020						$	4,286,336
2021						4,084,702
2022						3,530,879
2023						3,743,526
2024 and thereafter						15,274,881
						$	30,920,324

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- References

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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