INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 5 – INTANGIBLE ASSETS

The carrying values of the Company’s intangible assets were as follows for the periods presented:

	June 30, 2023							December 31, 2022
			Accumulated							Accumulated
	Cost		Amortization			Net		Cost		Amortization			Net
Amortizable Intangible Assets:
Product Licenses	$	4,793,879	$	(1,149,604	)	$	3,644,275	$	4,793,879	$	(980,583	)	$	3,813,296
Patents and Other IP		21,935,580		(2,105,580	)		19,830,000		21,935,580		(1,492,057	)		20,443,523
Customer relationships and other		7,947,332		(1,278,029	)		6,669,303		7,947,332		(694,171	)		7,253,161
Total	$	34,676,791	$	(4,533,213	)	$	30,143,578	$	34,676,791	$	(3,166,811	)	$	31,509,980

As of June 30, 2023, the weighted-average amortization period for finite-lived intangible assets was 14.3 years. Amortization expense related to intangible assets was $695,202 and $437,540 for the three months ended June 30, 2023 and 2022, respectively, and $1,366,403 and $547,563 for the six months ended June 30, 2023 and 2022, respectively. The estimated remaining amortization expense as of June 30, 2023 for finite-lived intangible assets is as follows:

Remainder of 2023	$	1,390,403
2024		2,780,806
2025		2,780,806
2026		2,763,550
2027		2,649,698
2028		2,616,456
Thereafter		15,161,859
Total	$	30,143,578

The Company has reviewed the carrying value of intangible assets and has determined there was no impairment during either of the six months ended June 30, 2023 or 2022.