| Gross Carrying Amount of Goodwill |
|
|
|
|
|
|
|
|
|
|
2018
|
|
|
2017
|
|
Beginning balance
|
$
|
6,878,932
|
|
$
|
—
|
|
Goodwill arising from APP Acquisition
|
|
—
|
|
|
6,878,932
|
|
Ending balance
|
$
|
6,878,932
|
|
$
|
6,878,932
|
|
| Gross Carrying Amounts of Finite Intangible Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Carrying
|
|
Accumulated
|
|
Net Book
|
|
|
Amount
|
|
Amortization
|
|
Value
|
|
Intangible assets with finite lives:
|
|
|
|
|
|
|
|
|
|
Developed technology - PREBOOST®
|
$
|
2,400,000
|
|
$
|
285,366
|
|
$
|
2,114,634
|
|
Covenants not-to-compete
|
|
500,000
|
|
|
136,905
|
|
|
363,095
|
|
Total intangible assets with finite lives
|
|
2,900,000
|
|
|
422,271
|
|
|
2,477,729
|
|
Acquired in-process research and development assets
|
|
18,000,000
|
|
|
—
|
|
|
18,000,000
|
|
Total intangible assets
|
$
|
20,900,000
|
|
$
|
422,271
|
|
$
|
20,477,729
|
The gross carrying amounts and net book value of intangible assets are as follows at September 30, 2017:
|
|
|
|
|
|
|
|
|
|
|
|
Gross Carrying
|
|
Accumulated
|
|
Net Book
|
|
|
Amount
|
|
Amortization
|
|
Value
|
|
Intangible assets with finite lives:
|
|
|
|
|
|
|
|
|
|
Developed technology - PREBOOST®
|
$
|
2,400,000
|
|
$
|
81,533
|
|
$
|
2,318,467
|
|
Covenants not-to-compete
|
|
500,000
|
|
|
65,476
|
|
|
434,524
|
|
Total intangible assets with finite lives
|
|
2,900,000
|
|
|
147,009
|
|
|
2,752,991
|
|
Acquired in-process research and development assets
|
|
18,000,000
|
|
|
—
|
|
|
18,000,000
|
|
Total intangible assets
|
$
|
20,900,000
|
|
$
|
147,009
|
|
$
|
20,752,991
|
|
| Estimated Future Amortization Expense |
|
|
|
|
|
|
Estimated
|
|
Year Ending September 30,
|
Amortization Expense
|
|
2019
|
$
|
309,234
|
|
2020
|
|
316,368
|
|
2021
|
|
323,706
|
|
2022
|
|
331,316
|
|
2023
|
|
339,062
|
|
Thereafter
|
|
858,043
|
|
Total
|
$
|
2,477,729
|
|