Intangible Assets

6 Months Ended

Dec. 31, 2015

NOTE 5—INTANGIBLE ASSETS

The officer and director of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, the officer and director of the Company may face a conflict in selecting between the Company and his other business interests. The Company has not formulated a policy for the resolution of such conflicts.

	December 31,			June 30,
	2015			2015
Mobile platform	$	98,000		$	98,000
Patents		1,000			1,000
		99,000			99,000
Less:
Accumulated amortization		(80,538	)		(72,371	)
Impairment reserve		(18,462	)		-
Intangible assets, net	$	-		$	26,629

Amortization expense charged to operations for the six months ended December 31, 2015 and 2014 was $8,167 and $25,735, respectively. Amortization expense charged to operations for the three months ended December 31, 2015 and 2014 was $0 and $10,467, respectively. During the six months ended December 31, 2015, the Company reported an impairment loss of $18,462 over its intangible assets. The impairment loss during the six months ended December 31, 2015 was due to the cessation of the Company’s plan of operation as a mobile technology provider, and corresponding write down of the Company’s intangible assets.