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Intangible Assets | 3 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [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 September 30, 2021 and June 30, 2021:
|  | September 30, 2021 |  |  | June 30, 2021 |
Intellectual Property |  | $ | 2,293,770 |  |  | $ | 2,293,770 |
Less Accumulated Amortization |  |  | (1,255,265 | ) |  |  | (1,197,921 | )
Intellectual Property, Net |  | $ | 1,038,505 |  |  | $ | 1,095,849 |
Amortization expense was $57,344 in each of the three-month periods ended September 30, 2021 and 2020. The Company amortizes intellectual property over the expected original useful lives of 10 years. Estimated future amortization expense is as follows: Schedule of Future expected Amortization of intangible assets
Year ending June 30, 2022 (Remaining nine months) |  | $ | 172,033 |
2023 |  |  | 229,377 |
2024 |  |  | 229,377 |
2025 |  |  | 229,377 |
2026 |  |  | 178,341 |
Intellectual Property, Net |  | $ | 1,038,505 |

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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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