INTANGIBLE ASSETS

3 Months Ended

Sep. 30, 2011

Notes to Financial Statements

INTANGIBLE ASSETS

Intangible assets are comprised of the following as of September 30, 2011 and June 30, 2011:

	September 30, 2011			June 30, 2011
Non-compete agreement	$	300,000		$	300,000
License agreement		278,000			278,000
Trade secrets		1,543,922			1,543,922
Total, at cost		2,121,922			2,121,922
Less, accumulated amortization		(487,172	)		(310,415	)
Intangible Assets, Net	$	1,634,750		$	1,811,507

Estimated amortization expense for fiscal periods subsequent to September 30, 2011 are as follows:
2012	$	530,550
2013		707,307
2014		396,893
	$	1,634,750