Innovation Pharmaceuticals Inc (IPIX)

[kfcyahoo]

Every minute, and dollar, matters.2021-2022??. Ya think.

. Patents, net



Patents, net consisted of the following (rounded to nearest thousand):







Useful life





June 30,

2018





June 30,

2017























Purchased Patent Rights- Brilacidin, and related compounds





14





$ 4,082,000




$ 4,082,000


Purchased Patent Rights-Anti-microbial- surfactants and related compounds





12







144,000






144,000


Patents - Kevetrin and related compounds





17







1,219,000






1,308,000
















5,445,000






5,534,000


Less: Accumulated amortization for Brilacidin, Anti-microbial- surfactants and related compounds













(1,462,000 )




(1,158,000 )
Accumulated amortization for Patents-Kevetrin and related compounds













(203,000 )




(164,000 )
Total











$ 3,780,000




$ 4,212,000




The patents are amortized on a straight-line basis over the useful lives of the assets, determined to be 12-17 years from the date of acquisition.

Tic toc,. Management has to learn how to use an alarm clock and control costs.



Amortization expense was approximately $385,000 and $372,000 for the years ended June 30, 2018 and 2017, respectively.



At June 30, 2018, the future amortization period for all patents was approximately 7.18 years to 16.75 years. Future estimated annual amortization expenses are approximately $375,000 for the year ending June 30, 2019, $375,000 for each year from 2019 to 2025, $365,000 for the year ending June 30, 2026, $363,000 for the year ending June 30, 2027, $125,000 for the year ending June 30, 2028, $72,000 for the years ending June 30, 2029 through the years ended 2031, $52,000 for the year ending June 30, 2032, $23,000 for the year ending June 30, 2033, $7,000 for the year ending June 30, 2034 and $2,000 for the year ending June 30, 2035.