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Intangible Assets

3 Months Ended

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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- References

No definition available.

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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

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