Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

The below table reflects intangible assets acquired through the Purchase Agreement with TRx on November 17, 2017. 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

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

Amortization expense was $403,520 for the year ended December 31, 2017. There was no amortization expense for the year ended December 31, 2016

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