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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Acquisitions [Abstract]

Schedule of Aggregate Consideration Transferred for the Assets Acquired

The following table summarizes the aggregate consideration transferred for the assets acquired by the Company in connection with the Veru APA:

		Consideration Transferred
Consideration transferred at closing		$	6,000,000
Fair value of notes payable issued			12,947,000
Transaction costs			79,771
Total consideration transferred		$	19,026,771

The acquisition-date fair value of the consideration transferred totaled approximately $65.1 million, which consisted of the following:

		Consideration Transferred
Common stock		$	875,484
Series B convertible preferred stock			64,236,085
Total consideration transferred		$	65,111,569

Schedule of Assets Acquired

The following table summarizes the assets acquired with the Veru APA:

		Assets Recognized
Inventory		$	1,120,000
ENTADFI® Intangible			17,906,771
Total fair value of identifiable assets acquired		$	19,026,771

Schedule of Fair Value of the Proteomedix Stock Options

The fair value of the Proteomedix stock options assumed as part of the PMX Transaction was determined using a Black-Scholes option pricing model with the following significant assumptions:

Exercise price			$1.15 – 28.83
Stock price		$	128.11
Term (years)			0.17 – 3.59
Expected stock price volatility			90%
Risk-free rate of interest			4.07% – 5.47%

Schedule of Estimated Fair Values of Assets Acquired and Liabilities

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the acquisition date:

		Net Assets Recognized
Cash		$	1,056,578
Accounts receivable			87,445
Inventories			80,593
Prepaid expenses and other current assets			114,615
Right of use asset			149,831
Property and equipment, net			39,779
Trade name			9,018,000
Customer relationships			1,891,000
Product rights for developed technology			10,541,000
Goodwill			53,914,055
Total assets acquired			76,892,896
Accounts payable			(234,029	)
Accrued expenses			(732,814	)
Operating lease liability			(149,831	)
Deferred tax liability			(2,994,669	)
Pension benefit obligation			(548,384	)
Note payable			(115,096	)
Total liabilities assumed			(4,774,823	)
Net assets			72,118,073
Less non-controlling interest			(7,006,504	)
Net assets acquired		$	65,111,569

Schedule of Consolidated Statements of Operations and Comprehensive Loss

The amounts of revenue and loss of Proteomedix, included in the Company’s consolidated statements of operations and comprehensive loss from the Acquisition Date through December 31, 2023 are as follows:

Revenue		$	58,465
Net loss		$	315,688

		Unaudited For the Years Ended December 31,
		2023			2022
Revenue		$	2,601,310		$	392,460
Net loss			38,577,046			16,326,247

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