Akoustis Technologies, Inc. General form of registration statement for all companies including face-amount certificate companies

Intangible assets

3 Months Ended

12 Months Ended

Sep. 30, 2017

Jun. 30, 2017

Note 6. Intangible assets

The Company’s intangible assets consisted of the following:

	Estimated useful life	September 30, 2017			June 30, 2017
Patents	15 years	$	146,918		$	135,291
Customer relationships	14 years		81,773			81,773
Less: Accumulated amortization			(16,012	)		(12,097	)
Subtotal			212,679			204,967
Trademarks			1,560			1,560
Intangible assets, net		$	214,239		$	206,527

The Company recorded amortization expense of $3,915 and $1,350 for the three months ended September 30, 2017 and 2016, respectively.

The following table outlines estimated future annual amortization expense for the next five years and thereafter:

Note 6. Intangible assets

The Company’s intangible assets consisted of the following:

	Estimated useful life		June 30, 2017			June 30, 2016
Patents		15 years	$	135,291		$	74,562
Customer relationships		14 years		81,773			—
Less: Accumulated amortization				(12,097	)		(4,889	)
Subtotal				204,967			69,673
Trademarks		—		1,560			1,560
Intangible assets, net			$	206,527		$	71,233

The Company recorded amortization expense of $7,208 and $3,339 for the year ended June 30, 2017 and 2016, respectively.

The following table outlines estimated future annual amortization expense for the next five years and thereafter: