Quarterly report pursuant to Section 13 or 15(d)

Intangible assets

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Intangible assets
 6 Months Ended
Dec. 31, 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		   December 31, 2017     June 30, 2017  
Patents   15 years   $ 168,541     $ 135,291  
Customer relationships   14 years     81,773       81,773  
Less: Accumulated amortization         (20,173 )     (12,097 )
Subtotal         230,141       204,967  
Trademarks         1,560       1,560  
Intangible assets, net       $ 231,701     $ 206,527  

 

The Company recorded amortization expense of $4,161 and $1,762 for the three months ended December 31, 2017 and 2016, respectively.

 

The Company recorded amortization expense of $8,076 and $3,112 for the six months ended December 31, 2017 and 2016, respectively.

 

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

 

December 31,      
2018   $ 17,077  
2019     17,077  
2020     17,077  
2021     17,077  
2022     17,077  
Thereafter     144,756  
    $ 230,141