INTANGIBLE ASSETS

9 Months Ended

Mar. 31, 2012

Notes to Financial Statements

INTANGIBLE ASSETS

NOTE 7– INTANGIBLE ASSETS

Intangible assets are comprised of the following as of March 31, 2012 and June 30, 2011:

	March 31, 2012			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		(872,477	)		(310,415	)
Intangible Assets, Net	$	1,325,620		$	1,811,507
Estimated amortization expense for fiscal periods subsequent to March 31, 2012 are as follows:
2012	$	182,742
2013		732,699
2014		410,179
	$	1,325,620