Post-effective amendment to a registration statement that is not immediately effective upon filing

Intangible assets

v3.8.0.1
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