XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

INTANGIBLE ASSETS AND GOODWILL | 9 Months Ended
--- | ---
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | NOTE 6 — INTANGIBLE ASSETS AND GOODWILL At March 31, 2024, and June 30, 2023, definite-life intangible assets, net of accumulated amortization, consisted of patents on the Company’s products and processes of $31,042 and $39,676, respectively. The patents are recorded at cost and amortized over twenty years from the date of application. Amortization expense for the three and nine months ended March 31, 2024, was $779 and $7,524, respectively. Amortization expense for the three and nine months ended March 31, 2023, was $1,580 and $4,572, respectively. At March 31, 2024, and 2023, indefinite life intangible assets consisted of In-Process Research and Development (“IPR&D”), which is not amortizable until the intangible asset provides economic benefit. At March 31, 2024, and June 30, 2023, definite and indefinite-life intangible assets consisted of the following:
Schedule of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Useful Life |  | June 30, 2023 |  | Additions |  | Amortization |  | Impairment |  | Translation Adjustment |  | March 31, 2024
Definite Life Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents |  | 20 Years |  | $ | 290,936 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (3,856 | ) |  | $ | 287,080 |
Less Accumulated Amortization |  |  |  |  | (251,260 | ) |  |  | — |  |  |  | (7,524 | ) |  |  | — |  |  |  | 2,746 |  |  |  | 256,038 |
Net Definite-Life Intangible Assets |  |  |  | $ | 39,676 |  |  | $ | — |  |  | $ | (7,524 | ) |  | $ | — |  |  | $ | (1,110 | ) |  | $ | 31,042 |
Indefinite Life Intangible Assets and Goodwill |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  |  |  | 11,640,000 |  |  |  | 151,536,444 |  |  |  | — |  |  |  | — |  |  |  | 1,010,408 |  |  |  | 164,186,852 |
IPR&D |  |  |  | $ | 42,611,000 |  |  |  | 10,684,091 |  |  |  | — |  |  |  | (42,611,000 | ) |  |  | 71,164 |  |  |  | 10,755,255 |
Total Indefinite Life Intangible Assets and Goodwill |  |  |  | $ | 54,251,000 |  |  | $ | 162,220,535 |  |  | $ | — |  |  | $ | (42,611,000 | ) |  | $ | 1,081,572 |  |  | $ | 174,942,107 |
Expected future amortization expense is as follows:
Schedule of expected future amortization expense |  |
Year ending June 30, |  |
| 2024 |  |  | $ | 1,942 |
| 2025 |  |  |  | 9,700 |
| 2026 |  |  |  | 9,700 |
| 2027 |  |  |  | 9,700 |
| Total |  |  | $ | 31,042 |
During February 2018, the Company acquired IPR&D related to a License Agreement (as licensee) to an HIV therapy which consists of a perpetual, fully paid-up, royalty-free, sub-licensable, 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 for the prevention, treatment, amelioration of and/or therapy exclusively for HIV in humans, and research and development exclusively relating to HIV in humans. The IPR&D intangible asset was classified as an indefinite life asset that was tested annually for impairment. On February 13, 2024, the Company acquired Renovaro Cube as a wholly owned subsidiary pursuant to a stock purchase agreement. As part of the acquisition of Renovaro Cube, the Company acquired IPR&D assets valued at $10,684,091. Impairment – On March 1, 2024, the Company received a notice from the sole manager of Weird Science LLC terminating the License Agreement by and between Weird Science LLC and Enochian Biopharma, Inc. (now known as Renovaro Biosciences, Inc.), a wholly owned subsidiary of the Company, dated February 16, 2018. Due to the termination of the License Agreement, the Company recorded an impairment of $42,611,000 in the period ended March 31, 2024.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration