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DEFINITE-LIFE INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 3 — DEFINITE-LIFE INTANGIBLE ASSETS

During February 2018, the Company acquired a License Agreement (as licensee) to the HIV therapy being developed as ENO-1001 which consists of a perpetual, fully paid-up, royalty-free, sublicensable, and sole and exclusive worldwide license to research, develop, use, sell, have sold, make, have made, offer for sale, import and otherwise commercialize certain intellectual property in cellular therapies in the Field (the “License”).

At December 31, 2018 and June 30, 2018, definite and indefinite-life intangible assets consisted of the following:

	Useful Life	December 31, 2018			Period Change			Effect of Currency Translation			June 30, 2018
Patents	20 Years	$	304,440			—		$	(6,528	)	$	310,968
License Agreement	20 Years		154,824,000			—			—			154,824,000

Goodwill			11,640,000			—			—			11,640,000
Total			166,768,440			—			(6,528	)		166,774,968
Less Accumulated Amortization			(6,872,959	)		(3,841,999	)		8,459			(3,039,509	)
Net Definite-Life Intangible Assets		$	159,895,481			(3,841,999	)		(2,021	)	$	163,735,459

At December 31, 2018 the expected future amortization expense for the years ended are as follows:

Year ending June 30,
2019		3,923,340
2020		7,756,790
2021		7,756,790
2022		7,756,790
2023		7,756,790
Thereafter		113,304,981

	$	148,255,481

Impairment – Following the fourth quarter of each year, management performs its annual test of impairment of intangible assets assessing the qualitative factors and determines if it is more than likely than not that the fair value of the asset is greater than or equal to the carrying value of the asset.