Quarterly report pursuant to Section 13 or 15(d)

Intangible assets

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Intangible assets
 3 Months Ended
Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets

Note 5. Intangible assets

 

The Company’s intangible assets consisted of the following:

 

    Estimated 
useful life		   September 30, 2016     June 30, 2016  
Patents   15 years   $ 88,286     $ 74,562  
Less: Accumulated amortization         (6,239 )     (4,889 )
Subtotal         82,047       69,673  
Trademarks   —     1,560       1,560  
Intangible assets, net       $ 83,607     $ 71,233  

 

The Company recorded amortization expense of $1,350 and $1,034 for three months ended September 30, 2016 and 2015, respectively.

 

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

 

September 30,      
2017   $ 5,836  
2018     5,836  
2019     5,836  
2020     5,836  
2021     5,836  
Thereafter     52,867  
    $ 82,047