Quarterly report pursuant to Section 13 or 15(d)

Acquisition of Patents and Intangibles (Tables)

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Acquisition of Patents and Intangibles (Tables)
 6 Months Ended
Nov. 30, 2019
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, 2019
     
May 31, 2019
  
Gross carrying amounts
    $ 3,500,000      $ 3,500,000  
Development of new Company website
   
$
 19,552      $ 19,553  
Intangible asset acquisition:
                  
ProstaGene, LLC
      15,126,216        15,126,216  
Accumulated amortization
      (4,195,730 )       (3,170,315 ) 
    
 
 
     
 
 
  
Total amortizable intangible assets, net
   
$
 		 14,450,038     
$
 		 15,475,454  
    
 
 
     
 
 
  
Patents currently not amortized
   
$
 		 —       
$
 		 —  
    
 
 
     
 
 
  
Carrying value of intangibles, net
    $ 14,450,038      $ 15,475,454