INTANGIBLE ASSETS AND GOODWILL

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

NOTE 10. INTANGIBLE ASSETS AND GOODWILL

The Company’s intangible assets at June 30, 2022 consisted of the following:

	Amortization Periods (in years)		Cost		Accumulated Amortization			Impairment		Net Carrying Value
Patents		17-19	$	971,000	$	(118,000	)	$	-	$	853,000
Licenses		20		100,000		(18,000	)		-		82,000
Trademarks		Indefinite		260,000		-			-		260,000
Acquired NDAs		10		13,635,000		(682,000	)		-		12,953,000
Customer relationships		3-15		1,519,000		(652,000	)		-		867,000
Trade name		5		5,000		(5,000	)		-		-
Non-competition clause		3-4		50,000		(50,000	)		-		-
State pharmacy licenses		25		8,000		(7,000	)		-		1,000
			$	16,548,000	$	(1,532,000	)	$	-	$	15,016,000

Amortization expense for intangible assets for the three and six months ended June 30, 2022 and 2021 was as follows:

	For the				For the
	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Patents	$	21,000	$	6,000	$	43,000	$	12,000
Licenses		3,000		-		11,000		1,000
Acquired NDAs		341,000		-		682,000		-
Customer relationships		33,000		33,000		66,000		66,000
	$	398,000	$	39,000	$	802,000	$	79,000

Estimated future amortization expense for the Company’s intangible assets at June 30, 2022 is as follows:

Remainder of 2022	$	795,000
2023		1,592,000
2024		1,592,000
2025		1,592,000
2026		1,595,000
Thereafter		7,590,000
	$	14,756,000