Acquired in-Process Research & Development
|6 Months Ended|
Jun. 30, 2022
|Research and Development [Abstract]|
|ACQUIRED IN-PROCESS RESEARCH & DEVELOPMENT||
6 — ACQUIRED IN-PROCESS RESEARCH & DEVELOPMENT
The Company booked intangible assets associated with a number of ongoing research and development projects at the time of the acquisition of Purnovate. Carrying value of acquired in-process research and development was $455,000 on both June 30, 2022 and December 31, 2021.
The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef