NOTE 6 – INTANGIBLE ASSET

The Company has capitalized the costs associated with acquiring the exclusive worldwide license to develop and commercialize products comprising or containing the compound NEO1940 as an intangible asset at a value of $2,039 as of August 31, 2021 and 2020. 

The amount capitalized consisted of a $1,500 payment and the fair value of 61,297 shares of common stock of $539. During the year ended August 31, 2021, no additional costs met the criteria for capitalization as an intangible asset.