Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.8.0.1
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Finite-Lived Intangible Assets by Major Class
For the year ended December 31, 2017, changes in the gross carrying amount of intangible assets consisted of the following:

Intangible assets at December 31, 2016
 
$
0

 
Intangible assets from acquisition of TRx Pharmaceuticals
 
18,068,000
 
 
Intangible assets at December 31, 2017
 
$
18,068,000

 
Schedule of Finite-Lived Intangible Assets
The following is a summary intangible assets held by the Company at:

 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
    
Gross Carrying Amount
    
Accumulated Amortization
    
Net Carrying Amount
 
Weighted-Avg.Remaining Life
 
 
 
 
(in years)
Acquired product marketing rights
 
$
15,734,000

 
$
257,645

 
$
15,476,355

 
11.2
Sales and marketing agreement
 
2,334,000

 
145,875

 
2,188,125

 
1.9
Total Intangible Assets
 
$
18,068,000

 
$
403,520

 
$
17,664,480

 
 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The estimated aggregate amortization of intangible assets based on the preliminary values assigned as of December 31, 2017, for each of the five succeeding years and thereafter is as follows:

 
 
Estimated
 
 
Amortization
For the Years Ending December 31,
    
Expense
 
 
 
2018
 
$
3,228,167

2019
 
3,082,292

2020
 
2,038,030

2021
 
1,728,867

2022
 
697,667

Thereafter
 
6,889,457

Total amortization expense
 
$
17,664,480