NeuBase Therapeutics, Inc. Registration of securities issued in business combination transactions

Registration of securities issued in business combination transactions

INTANGIBLE ASSETS

INTANGIBLE ASSETS

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

Intangible assets at December 31, 2018 and September 30, 2018:

	December 31, 2018			September 30, 2018
License Rights	$	17,712,991		$	17,712,991
Patent Costs		100,000			100,000
		17,812,991			17,812,991
Accumulated Amortization and impairment		(10,366,100	)		(10,201,073	)
Total Intangible Assets	$	7,446,891		$	7,611,918

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:

	2018			2017
License Rights	$	17,712,991		$	17,712,991
Patent Costs		100,000			200,000
		17,812,991			17,912,991
Accumulated Amortization and Impairment		(10,201,073	)		(3,825,389	)
Total Intangible Assets	$	7,611,918		$	14,087,602

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:

Years ending September 30,	Amortization Expense
2019		654,728
2020		656,521
2021		653,855
2022		652,874
2023		652,358
Thereafter		4,341,583
Total	$	7,611,918