Quarterly report pursuant to Section 13 or 15(d)

Acquisition of Patents and Intangibles (Tables)

v3.10.0.1
Acquisition of Patents and Intangibles (Tables)
 6 Months Ended
Nov. 30, 2018
Summary of the Net Purchase Price and Allocation to the Acquired Assets

A summary of the net purchase price and allocation to the acquired assets is as follows:

 

     ProstaGene, LLC  

CytoDyn Inc. Equity

    $ 11,558,000  

Acquisition Expenses

      741,297  

Release of Deferred Tax Asset

      2,826,919  
  

 

 

  

Total Cost of Acquisition

    $ 15,126,216  
  

 

 

  

Intangible assets

    $ 15,126,216  

Other

      —    
  

 

 

  

Allocation of Acquisition Costs

    $ 15,126,216  
  

 

 

  
Intangible Assets Activity

The following presents intangible assets activity:

 

     November 30, 2018      May 31, 2018  

Gross carrying amounts

    $ 3,500,000      $ 3,500,000  

Intangible asset acquisition:

      

ProstaGene, LLC

      15,126,216        —    

Accumulated amortization

      (2,209,254 )       (1,968,846 ) 
  

 

 

     

 

 

  

Total amortizable intangible assets, net

      16,416,962        1,531,154  

Patents currently not amortized

      35,989        35,989  
  

 

 

     

 

 

  

Carrying value of intangibles, net

    $ 16,452,951      $ 1,567,143