Annual report pursuant to Section 13 and 15(d)

Intangible assets

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Intangible assets
 12 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets

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: 

 

June 30,        
2018     $ 14,811  
2019       14,811  
2020       14,811  
2021       14,811  
2022       14,811  
Thereafter       130,912  
Total     $ 204,967