XML 25 R15.htm IDEA: XBRL DOCUMENT v3.24.3
Intellectual Property
9 Months Ended
Sep. 30, 2024
Intellectual Property [Abstract]  
INTELLECTUAL PROPERTY

NOTE 9 – INTELLECTUAL PROPERTY

 

A third party independent valuation specialist was asked to determine the value of Global Stem Cell Group, Inc., tangible and intangible assets assuming the offering price was at fair value. In order to perform the purchase price allocation, the tangible and intangible assets were valued as of August 18, 2021.

 

The Fair Value of the intangible assets as of the Valuation Date is reasonably represented as:

 

   September 30,
2024
   December 31,
2023
 
Tradename - Trademarks  $87,700   $87,700 
Intellectual Property / Licenses   363,000    363,000 
Customer Base   37,000    37,000 
Intangible assets   487,700    487,700 
Less: accumulated amortization   (304,311)   (231,156)
Total intangible assets, net  $183,389   $256,544 

 

Amortization is computed on straight-line method based on estimated useful lives of 5 years. During the nine months ended September 30, 2024 and the nine months ended September 30, 2023, the Company recorded amortization expense of the intellectual property of $73,155 and $73,155, respectively.