v3.26.1
Intangible Assets
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible Assets

Note 4 - Intangible Assets

 

On June 18, 2024, the Company entered into a License Agreement with NovoDX Corporation, a related party, to license the NovoDX’s GoldNTM Ebola Rapid Diagnostic Test to market and sell the Licensed Product within the commercial field, which was Amended and Restated on July 22, 2024. In consideration for the License, the Company issued 3,000,000 shares of its restricted common stock to NovoDX. The shares were issued at $1.00 per share, the same price as the private placement offering and are being amortized over a 10-year period. During the year ended December 31, 2025, the Company identified impairment indicators and recorded a full impairment charge to write down the carrying amount of the licensed intellectual property to zero.

 

As of June 30, 2026 the Company had no remaining intangible asset balance.

 

As of December 31, 2025 the Company had the following intangible asset balances:

 

   Estimated useful life  Gross carrying amount   Accumulated amortization   Impairment Loss   Net carrying amount 
Intellectual property - license  10 years  $3,000,000   $(450,000)  $(2,550,000)  $- 
Total intangibles     $3,000,000   $(450,000)  $(2,550,000)  $- 

 

Amortization expense was $0 and $150,000 for the six months ended June 30, 2026 and 2025, respectively.