BIONIK Laboratories Corp. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

TECHNOLOGY AND OTHER ASSETS

TECHNOLOGY AND OTHER ASSETS

12 Months Ended

Mar. 31, 2020

4.TECHNOLOGY AND OTHER ASSETS

The schedule below reflects the intangible assets acquired in the IMT acquisition and the assets amortization period and expense for the year ended March 31, 2020:


		Value	Expense	Value at		Expenses	Value at
	Amortization	acquired	March 31, 2019	March 31, 2019		March 31, 2020	March 31, 2020
Intangible assets acquired	period (years)	$	$	$	Impairment $	$	$
Patents and exclusive License Agreement	9.74	1,306,031	134,090	911,440	307,388	134,090	469,962
Trademark	Indefinite	2,505,907	—	2,505,907	1,605,907		900,000
Customer relationships	10	1,431,680	143,168	1,010,375	787,245	143,168	79,962
Non-compete agreement	2	61,366	1,739	—	—	—	—
Assembled workforce	1	275,720	—	—	—	—	—
		5,580,704	278,997	4,427,722	2,700,540	277,258	1,449,924

The cumulative amortization expense for the technology and other assets was $1,430,240 and $1,152,982 at March 31, 2020 and March 31, 2019, respectively and as a result of a technology valuation at March 31, 2020, the technology assets were written down by an additional $2,700,540.