|3 Months Ended||12 Months Ended|
Dec. 31, 2018
Sep. 30, 2018
|Goodwill and Intangible Assets Disclosure [Abstract]|
NOTE 3 – INTANGIBLE ASSETS
Intangible assets at December 31, 2018 and September 30, 2018:
During the three month period ended December 31, 2018 the Company recognized $165,027 in amortization expense on the patents and license rights.
NOTE 4 – INTANGIBLE ASSETS
Intangible assets at September 30, 2018 and 2017 consist of:
During the years ended September 30, 2018, and 2017, the Company recognized $1,114,349, and $1,120,617, respectively, in amortization expense on the patents and license rights. In addition, an impairment loss on the license rights related to the sustained release technology of $5,313,640 was recorded during the year ended September 30, 2018.
In the year ended September 30, 2018, certain squalamine patents were sold for $508,078, resulting in a gain of $460,383. In addition, the Company is entitled to additional milestone payments up to $1.1 million and a royalty on future product sales, if any.
The estimated future amortization of intangibles for the next five years is as follows:
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef