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Intangible Assets | 6 Months Ended | 12 Months Ended
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Dec. 31, 2019 | Jun. 30, 2019
Related Party Transactions [Abstract] |  |
Intangible Assets |
4. | Intangible Assets
The Company’s intangible assets consist of intellectual property acquired from LAT Pharma, Inc. and are amortized over their estimated useful lives. The following is a summary of the intangible assets as of December 31, 2019 and June 30, 2019:
|  | December 31, 2019 |  | June 30, 2019
Intellectual Property |  | $ | 2,293,770 |  |  | $ | 2,293,770 |
Less Accumulated Amortization |  |  | (853,855 | ) |  |  | (739,167 | )
Intellectual Property, Net |  | $ | 1,439,915 |  |  | $ | 1,554,603 |
Amortization expense for the three-month period ended December 31, 2019 and 2018 was $57,344 and $57,344 respectively Amortization expense for the six-month period ended December 31, 2019 and 2018 was $114,689 and $114,689 respectively. Estimated future amortization expense is as follows:
Year ending June 30, 2020 (Remaining six months) | $ 114,689
2021 | 229,377
2022 | 229,377
2023 | 229,377
2024 | 229,377
2025 | 229,377
Thereafter | 178,341
| $ 1,439,915
4. | Intangible Assets
Intellectual property, stated at cost, less accumulated amortization consists of the following:
|  | June 30, 2019 |  | June 30, 2018
Intellectual Property |  | $ | 2,293,770 |  |  | $ | 2,293,770 |
Less Accumulated Amortization |  |  | (739,167 | ) |  |  | (509,790 | )
Intellectual Property, Net |  | $ | 1,554,603 |  |  | $ | 1,783,980 |
Amortization expense amounted to $229,377 and $229,377 for the years ended June 30, 2019 and 2018, respectively. The Company amortizes intellectual property over the expected original useful lives of 10 years. Estimated future amortization expense is as follows:
Year ending June 30, |  |
2020 |  |  | 229,377 |
2021 |  |  | 229,377 |
2022 |  |  | 229,377 |
2023 |  |  | 229,377 |
2024 |  |  | 229,377 |
Thereafter |  |  | 407,718 |
|  | $ | 1,554,603 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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- References No definition available. + Details
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