INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2011

Notes to Financial Statements

INTANGIBLE ASSETS

NOTE 7– INTANGIBLE ASSETS

Intangible assets are comprised of the following as of December 31, 2011 and June 30, 2011:

	December 31, 2011			June 30, 2011
Non-compete agreement	$	310,888		$	300,000
License agreement		288,087			278,000
Trade secrets		1,599,122			1,543,922
Total, at cost		2,198,097			2,121,922
Less, accumulated amortization		(689,978	)		(310,415	)
Intangible Assets, Net	$	1,508,119		$	1,811,507
Estimated amortization expense for fiscal periods subsequent to December 31, 2011 are as follows:
2012	$	363,475
2013		732,699
2014		411,945
	$	1,508,119