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 December 31, 2021, 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 four months ended December 31, 2021, and the years ended August 31, 2021, and 2020, no additional costs met the criteria for capitalization as an intangible asset.