Quarterly report pursuant to Section 13 or 15(d)

Intangible assets

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Intangible assets
6 Months Ended
Dec. 31, 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
  December 31, 2016     June 30, 2016  
Patents   15 years   $ 114,212     $ 74,562  
Less: Accumulated amortization         (8,001 )     (4,889 )
Subtotal         106,211       69,673  
Trademarks       1,560       1,560  
Intangible assets, net       $ 107,771     $ 71,233  

 

The Company recorded amortization expense of $1,762 and $378 for the three months ended December 31, 2016 and 2015, respectively.

 

The Company recorded amortization expense of $3,112 and $1,412 for the six months ended December 31, 2016 and 2015, respectively.

 

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

 

December 31,      
2017   $ 7,565  
2018     7,565  
2019     7,565  
2020     7,565  
2021     7,565  
Thereafter     68,386  
    $ 106,211