General form of registration statement for all companies including face-amount certificate companies

Intangible Assets, Net (Tables)

v3.22.4
Intangible Assets, Net (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Intangible Assets, Net [Abstract]    
Schedule of acquired intangible assets
    September 30,
2022
    December 31,
2021
    Average
Estimated
Life
 
Patent products   $ 10,277,000     $ 10,277,000       15.4  
Licenses and trademarks     836,000       836,000       9  
Intangible assets   $ 11,113,000     $ 11,113,000          
                         
Less: Accumulated amortization     (769,462 )     (192,423 )        
Total   $ 10,343,538     $ 10,920,577          

 

  Preliminary         Average  
  Fair
Value
   

  Estimated

Life

 
Patent products   $  10,277,000       3.3 - 15.4  
Licenses and trademarks       865,000       9  
Customer/distribution list       (29,000)       12.5  
    $ 11,113,000            
Accumulated amortization     (192,423 )        
Total     10,920,577          
Schedule of allocation of purchase price of the acquisition  
Tangible Assets Acquired:   Allocation   
         
Net working capital   $ (1,186,622 )
Right of use asset     40,093  
Lease liability     (46,970 )
Net Tangible Assets Acquired   $ (1,193,499 )
          
Intangible Assets Acquired:           
Brain Scientific trade name   $ 133,000  
MemoryMD trade name     533,000  
NeuroCap trade name     188,000  

NeuroEEG trade name

    11,000  
Customer relationships     (29,000 )
NeuroCap developed technology     10,242,000  
NeuroEEG developed technology     35,000  
Total Fair Value of Assets Acquired   $ 11,113,000  
          
Consideration:           
Fair value of equity received     7,240,222  
Liabilities assumed     2,978,152  
Loans forgiven     605,311  
Goodwill   $ 913,184