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Acquisitions (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2020
Business Combinations [Abstract] |
Assets acquired and liabilities assumed | The Pediatric Portfolio
|  | As of |
|  | November 1, 2019 |
Consideration |  |  |
Cash and cash equivalents |  | $ | 4,500,000 |
Fair value of Series G Convertible Preferred Stock |  |  |  |
Total shares issued |  |  | 9,805,845 |
Estimated fair value per share of Aytu common stock |  | $ | 0.567 |
|  |  | 5,559,914 |
Total consideration transferred |  | $ | 10,059,914 |
Recognized amounts of identifiable assets acquired and liabilities assumed |  |  |  |
Inventory, net |  | $ | 459,123 |
Prepaid assets |  |  | 1,743,555 |
Other current assets |  |  | 2,525,886 |
Intangible assets - product marketing rights |  |  | 22,700,000 |
Accrued liabilities |  |  | (300,000 | )
Accrued product program liabilities |  |  | (6,683,932 | )
Assumed fixed payment obligations |  | $ | (29,837,853 | )
Total identifiable net assets |  |  | (9,393,221 | )
Goodwill |  | $ | 19,453,135 |
Innovus Merger (Consumer Health Portfolio)
|  | As of |
|  | February 14, 2020 |
Consideration |  |  |
Fair value of Aytu Common Stock |  |  |
Total shares issued at close |  |  | 3,810,393 |
Estimated fair value per share of Aytu common stock |  | $ | 0.756 |
Estimated fair value of equity consideration transferred |  | $ | 2,880,581 |
Fair value of Series H Convertible Preferred Stock |  |  |  |
Total shares issued |  |  | 1,997,736 |
Estimated fair value per share of Aytu common stock |  | $ | 0.756 |
Estimated fair value of equity consideration transferred |  | $ | 1,510,288 |
Fair value of former Innovus warrants |  | $ | 15,315 |
Fair value of Contingent Value Rights |  | $ | 7,049,079 |
Forgiveness of Note Payable owed to the Company |  | $ | 1,350,000 |
Total consideration transferred |  | $ | 12,805,263 |
|  | As of |
|  | February 14, 2020 |
Total consideration transferred |  | $ | 12,805,263 |
Cash and cash equivalents |  | $ | 390,916 |
Accounts receivables, net |  |  | 278,826 |
Inventory, net |  |  | 1,149,625 |
Prepaid expenses and other current assets |  |  | 1,692,133 |
Other long-term assets |  |  | 36,781 |
Right-to-use assets |  |  | 328,410 |
Property, plant and equipment |  |  | 190,393 |
Trademarks and patents |  |  | 11,744,000 |
Accounts payable and accrued other expenses |  |  | (7,202,309 | )
Other current liabilities |  |  | (629,601 | )
Debt |  |  | (3,056,361 | )
Lease liability |  |  | (754,822 | )
Total identifiable net assets |  |  | 4,167,991 |
Goodwill |  | $ | 8,637,272 |
Reconciliation of goodwill |
|  | Goodwill – Pediatric Portfolio |
Balance as of November 1, 2019 |  | $ | 15,387,064 |
Increase due to change in estimated fixed payment obligations |  |  | 3,766,071 |
Increase to account for settlement with former product licensor |  |  | 300,000 |
Balance as of June 30, 2020 |  | $ | 19,453,135 |
|  | Goodwill - Innovus Merger |
As of February 14, 2020 |  | $ | 8,374,269 |
Increase due to settlements related to lawsuit and product royalties |  |  | 209,178 |
Increase due to additional bonus accrual |  |  | 53,825 |
As of June 30, 2020 |  | $ | 8,637,272 |
Intangible assets acquired | The Pediatric Portfolio
|  | As of November 1, 2020 |
Acquired product technology rights |  | $ | 22,700,000 |
Innovus Merger (Consumer Health Portfolio)
|  | As of February 14, 2020 |
Acquired product distribution rights |  | $ | 11,354,000 |
Acquired customer lists |  |  | 390,000 |
Total intangible assets |  | $ | 11,744,000 |
Pro forma information |
|  | Year ended June 30, |
|  | 2020 |  |  | 2019 |
|  | Unaudited (aa) |  |  | Pro forma Unaudited |
Total revenues, net |  | $ | 35,562,537 |  |  | $ | 39,044,357 |
Net loss |  | $ | (16,325,078 | ) |  | $ | (37,939,908 | )
Net loss per share |  | $ | (0.37 | ) |  | $ | (3.27 | )
(aa) | Due to the absence of discrete financial information for Innovus, covering the period from February 1, 2020 through February 13, 2020, the Company did not include the impact of that stub-period for the pro forma results for the year ended June 30, 2020.

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