Intangible Assets Disclosure [Text Block] | NOTE 4 INTANGIBLE ASSETS AND GOODWILL The components of intangible assets were as follows: As of June 30, 2022 As of December 31, 2021 Gross Carrying Costs Accumulated Amortization Net Carrying Amount Gross Carrying Costs Accumulated Amortization Impairment Net Carrying Amount Patents & Trademarks $ 488,724 $ (241,583 ) $ 247,141 $ 453,314 $ (230,572 ) $ - $ 222,742 Developed Technology 3,500,000 (211,458 ) 3,288,542 6,382,000 (432,733 ) (2,485,725 ) 3,463,542 Customer Relationships 200,000 (12,083 ) 187,917 645,000 (410,000 ) (37,083 ) 197,917 Tradename 80,000 (12,963 ) 67,037 478,000 (29,343 ) (370,740 ) 77,917 Total $ 4,268,724 $ (478,087 ) $ 3,790,637 $ 7,958,314 $ (1,102,648 ) $ (2,893,548 ) $ 3,962,118 The impairment loss recognized during the year ended December 31, 2021 June 30, 2022 360 10 35 20. three June 30, 2022 2021, six June 30, 2022 2021, The following table outlines the estimated future amortization expense related to intangible assets held as of June 30, 2020: Year ending December 31, Expense 2022 $ 207,068 2023 414,139 2024 414,139 2025 412,056 2026 394,139 Thereafter 1,949,096 Total $ 3,790,637 The Company concluded there was no impairment of its finite-lived assets as of June 30, 2022. 360. Goodwill Goodwill for our zPREDICTA operating segment was zero as of June 30, 2022 December 31, 2021. December 31, 2021 June 30, 2022. second 2022 During the three June 30, 2022, 606 three June 30, 2022 The Company evaluated the materiality of these errors both qualitatively and quantitatively in accordance with Staff Accounting Bulletin (“SAB”) No. 99, No. 108, not December 31, 2021 June 30, 2022 March 31, 2022. The Company had previously disclosed the zPREDICTA acquisition date fair values of assets acquired and liabilities assumed, and the consideration transferred, the following table reflects the adjustment discussed above: Cash consideration $ 10,015,941 Assets acquired: Cash 425,727 Accounts receivable 76,549 Prepaid expenses 25,733 Intangible assets 3,780,000 Liabilities assumed: Accrued expenses (408,825 ) Deferred tax liability (661,658 ) Deferred revenue (452,678 ) Goodwill $ 7,231,093 Pro Forma The following pro forma information presents the combined results of operations of the Company and zPREDICTA as if the acquisition of zPREDICTA had been completed on January 1, 2020, 606 2021 2020 Unaudited Unaudited Revenue $ 2,056,484 $ 1,815,560 Net loss attributable to common shareholders $ (19,251,734 ) $ (26,946,564 ) During the second 2022, June 30, 2022, June 30, 2022. zPREDICTA reporting unit The quantitative review as of June 30, 2022 June 30, 2022, Goodwill balance at December 31, 2021 $ 6,857,790 Adjustment to fair value 373,303 Impairment (7,231,093 ) Goodwill balance at June 30, 2022 $ - When evaluating the fair value of zPREDICTA reporting unit, the Company used a discounted cash flow model and market comparisons. Key assumptions used to determine the estimated fair value included: (a) expected cash flow for the 10-year period following the testing date (including net revenues, costs of revenues, and operating expenses as well as estimated working capital needs and capital expenditures) and (b) an estimated terminal value using a terminal year growth rate of 4.0% determined based on the growth prospects of the reporting unit. The Company further used a probability weighting of various forecasts to address forecast risk. The Company used an estimated discount rate of 65% based on management’s best estimate and considering the Company’s current market capitalization. The majority of the inputs used in the discounted cash flow model are unobservable and thus are considered to be Level 3 1 not Helomics reporting unit The goodwill, for our Helomics operating segment, was zero at June 30, 2022 December 31, 2021, |