Annual report pursuant to Section 13 and 15(d)

Intangible assets

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Intangible assets
 12 Months Ended
Jun. 30, 2018
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, 2018     June 30, 2017  
Patents   15 years   $ 208,137     $ 135,291  
Customer relationships   14 years     81,773       81,773  
Less: Accumulated amortization         (27,175 )     (12,097 )
Subtotal         262,735       204,967  
Trademarks         1,560       1,560  
Intangible assets, net       $ 264,295     $ 206,527  

 

The Company recorded amortization expense of $15,078 and $7,208 for the year ended June 30, 2018 and 2017, respectively.

 

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

 

June 30,      
2019   $ 15,093  
2020     15,093  
2021     15,093  
2022     15,093  
2023     15,093  
Thereafter     117,925  
Total   $ 193,390  

 

The remaining amount of future annual amortization expense of $69,345 are patents that are still pending approval.