The following table summarizes changes in the carrying value of goodwill for the six months ended December 31, 2025 and 2024:


Carrying amount at June 30, 2025	$	8,638,609
Foreign currency exchange differences		99,344
Carrying amount at December 31, 2025	$	8,737,953


Carrying amount at June 30, 2024	$	8,690,018
Foreign currency exchange differences		(282,747	)
Carrying amount at December 31, 2024	$	8,407,271

The Company reviews goodwill for impairment at the reporting unit on an annual basis during the fourth quarter, and when events or changes in circumstances indicate that a reduction in the carrying value may not be recoverable. The reporting unit has been identified as the drug development business unit. There was no impairment identified by the Company at December 31, 2025.