7. INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 7– INTANGIBLE ASSETS

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

	2012			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		(1,054,975	)		(310,415	)
Intangible Assets, Net	$	1,143,122		$	1,811,507
Estimated amortization expense for fiscal periods subsequent to June 30, 2012 are as follows:
2013	$	732,000
2014		411,122
	$	1,143,122