XML 65 R34.htm IDEA: XBRL DOCUMENT v3.20.1

Fair Value Considerations (Tables)

9 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of fair value on a recurring basis

						Fair Value Measurements at March 31, 2020
		Fair Value at March 31, 2020				Quoted Priced in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Recurring:
Warrant derivative liability		$	11,000				–				–			$	11,000
Contingent consideration			18,754,000				–				–				18,754,000
CVR liability			5,219,000				–				–				5,219,000
		$	23,984,000				–				–			$	23,984,000

Fair Value Measurements at June 30, 2019

Fair Value at June 30, 2019

Quoted Priced in Active Markets for Identical Assets (Level 1)

Significant Other Observable Inputs (Level 2)

Significant Unobservable Inputs (Level 3)

Recurring:

Warrant derivative liability

$

13,000

–

–

$

13,000

Contingent consideration

23,326,000

–

–

23,326,000

CVR liability

–

–

–

–

$

23,339,000

–

–

$

23,339,000

Schedule of significant assumptions in valuing the warrant derivative liability

		As of March 31, 2020				As of June 30, 2019
Warrant Derivative Liability
Volatility			163.2	%			163.2	%
Equivalent term (years)			2.88				3.13
Risk-free interest rate			1.71	%			1.71	%
Dividend yield			0.00	%			0.00	%

Schedule of fair value on a nonrecurring basis

		Fair Value at Measurement Date				Quoted Priced in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Non-recurring
Pediatric Portfolio (November 1, 2019)
Product technology rights		$	22,700,000				–				–				22,700,000
Goodwill			15,687,064				–				–				15,687,064
Fixed payment arrangements			26,457,162				–				–				26,457,162
Innovus Merger (February 14, 2020)
Customer lists			390,000				–				–				390,000
Product distribution rights (trademarks and patents)			11,354,000				–				–				11,354,000
Right-to-use asset			675,980												675,980
Goodwill			8,374,269				–				–				8,374,269
Notes payable			3,056,361				–				–				3,056,361
		$	88,694,836				–				–			$	88,694,836

Schedule of significant assumptions in valuing intangible assets

Acquisition of the Pediatric Portfolio

		As of November 1, 2019 (*)
Product technology rights
Re-levered Beta			1.60
Market risk premium			6.00	%
Small stock risk premium			5.20	%
Risk-free interest rate			2.00	%
Company specific discount			25.00	%

(*) Valuation performed as of November 1, 2019. As a non-recurring fair value measurement, there is no remeasurement at each reporting period unless indications exist that the fair value of the asset has been impaired. There were no indicators as of March 31, 2020 that the fair value of the Product technology rights was impaired.

Innovus Merger

		As of November 1, 2019
Trademarks and patents
Re-levered Beta			0.84	%
Market risk premium			6.17	%
Small stock risk premium			4.99	%
Risk-free interest rate			1.89	%
Company specific discount			20.00	%

Schedule of fixed payment obligations discount rate

		As of November 1, 2019 (≠)
Fixed payment obligations
Discount rate		1.8% to 12.4%

(≠) Valuation performed as of November 1, 2019. As a non-recurring fair value measurement, there is no remeasurement at each reporting period unless indicates that the circumstances that existed as of the November 1, 2019 measurement date indicate that the carrying value is no longer indicative of fair value.

Schedule of changes in Level 3 inputs

Product Technology Rights

Innovus Assets

Goodwill

Liability Classified Warrants

CVR Liability

Contingent Consideration

Fixed Payment Arrangements

Balance as of June 30, 2019

–

–

–

$

13,000

–

$

23,326,000

–

Transfers into Level 3

–

–

–

–

–

–

–

Transfer out of Level 3

–

–

–

–

–

–

–

Total gains, losses, amortization or accretion in period

(946,000

)

(221,000

)

–

–

–

–

–

Included in earnings

–

–

–

(2,000

)

170,000

(4,576,000

)

647,000

Included in other comprehensive income

–

–

–

–

–

Purchases, issues, sales and settlements

–

Purchases

22,700,000

11,744,000

24,061,000

–

7,049,000

183,000

–

Issues

–

–

–

–

–

–

26,457,000

Sales

–

–

–

–

–

–

–

Settlements

–

–

–

–

(2,000,000

)

(179,000

)

(1,547,000

)

Balance as of March 31, 2020

$

21,754,000

$

11,523,000

$

24,061,000

$

11,000

$

5,219,000

$

18,754,000

$

25,557,000

X

- References

No definition available.

+ Details

Name:	AYTU_FairValueAssetsAndLiabilitiesUnobservableInputReconciliationTextBlock
Namespace Prefix:	AYTU_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	AYTU_ScheduleOfFixedPaymentObligationsDiscountRateTableTextBlock
Namespace Prefix:	AYTU_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration