Quarterly report pursuant to Section 13 or 15(d)

INTELLECTUAL PROPERTY LICENSING RIGHTS

v3.23.2
INTELLECTUAL PROPERTY LICENSING RIGHTS
6 Months Ended
Jun. 30, 2023
INTELLECTUAL PROPERTY LICENSING RIGHTS  
INTELLECTUAL PROPERTY/ LICENSING RIGHTS

NOTE 7 - INTELLECTUAL PROPERTY/ LICENSING RIGHTS

 

On October 12, 2018 the Company’s majority owned subsidiary, BioCorRx Pharmaceuticals Inc. acquired six patent families for sustained delivery platforms for the local delivery of biologic and small molecule drugs for an aggregate purchase price of $15,200. Amortization is computed on straight-line method based on estimated useful lives of 13 years. During the three months ended June 30, 2023 and 2022, the Company recorded amortization expense of $294 and $295, respectively. During the six months ended June 30, 2023 and 2022, the Company recorded amortization expense of $589 and $590, respectively. As of June 30, 2023, the accumulated amortization of these patents was $5,583. 

 

The future amortization of the patents are as follows:

 

Year

 

Amount

 

2023

 

 

580

 

2024

 

 

1,169

 

2025

 

 

1,169

 

2026

 

 

1,169

 

2027 and after

 

 

5,530

 

 

 

$ 9,617