INTELLECTUAL PROPERTY LICENSING RIGHTS |
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Sep. 30, 2024 | ||||||||||||||||||||||||||||||||||||
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| 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 September 30, 2024 and 2023, the Company recorded amortization expense of $295. During the nine months ended September 30, 2024 and 2023, the Company recorded amortization expense of $884. As of September 30, 2024, the accumulated amortization of these patents was $7,057.
The future amortization of the patents are as follows:
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- References No definition available.
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- Definition The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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