General form of registration statement for all companies including face-amount certificate companies

Intangible assets

v3.7.0.1
Intangible assets
 9 Months Ended 12 Months Ended
Mar. 31, 2017
Jun. 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		   March 31, 2017     June 30, 2016  
Patents   15 years   $ 126,246     $ 74,562  
Less: Accumulated amortization         (9,952 )     (4,889 )
Subtotal         116,294       69,673  
Trademarks   —     1,560       1,560  
Intangible assets, net       $ 117,854     $ 71,233  

 

The Company recorded amortization expense of $1,951 and $800 for the three months ended March 31, 2017 and 2016, respectively.

 

The Company recorded amortization expense of $5,063 and $2,212 for the nine months ended March 31, 2017 and 2016 respectively.

 

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

 

March 31,        
2018   $ 8,212  
2019     8,212  
2020     8,212  
2021     8,212  
2022     8,212  
Thereafter     75,234  
    $ 116,294  

Note 5. Intangible assets

 

The Company’s intangible assets consisted of the following:

 

    Estimated 
useful life		   June 30, 2016     June 30, 
2015		     March 31, 
2016		     March 31, 
2015		  
Patents   15 years   $ 74,562     $ 31,067     $ 62,847     $ 26,450  
Less: Accumulated amortization         (4,889 )     (1,550 )     (3,758 )     (1,044 )
Subtotal         69,673       29,517       59,089       25,406  
Trademarks   —     1,560       1,560       1,560       1,560  
Intangible assets, net       $ 71,233     $ 31,077     $ 60,649     $ 26,966  

  

The Company recorded amortization expense of $1,131 for three months ended June 30, 2016. The Company recorded amortization expense of $3,339, $1,550, $2,714 and $1,044, for the years ended June 30, 2016, June 30, 2015 and March 31, 2016 and the period May 12, 2014 (Inception) through March 31, 2015, respectively.

 

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

 

June 30,        
2017   $ 4,921  
2018     4,921  
2019     4,921  
2020     4,921  
2021     4,921  
Thereafter     45,068  
    $ 69,673