GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 6. GOODWILL AND INTANGIBLE ASSETS

The composition of goodwill at June 30, 2024 and 2023 is as follows:

	Year ended June 30, 2024
	XRT		PulpoAR			BLI		Total
Goodwill - beginning of year	$	300,000	$	379,038		$	10,557,600	$	11,236,638
Impairments		-		(379,038	)		-		(379,038	)
Goodwill - end of year	$	300,000	$	-		$	10,557,600	$	10,857,600

	Year ended June 30, 2023
	AUGGD			XRT		S5D			PulpoAR		BLI		Total
Goodwill - beginning of year	$	250,000		$	300,000	$	12,605,723		$	309,037	$	-	$	13,464,760
Acquisitions		-			-		-			-		10,473,700		10,473,700
Adjustments		-			-		-			70,001		83,900		153,901
Impairments		(250,000	)		-		(12,605,723	)		-		-		(12,855,723	)
Goodwill - end of year	$	-		$	300,000	$	-		$	379,038	$	10,557,600	$	11,236,638

THE GLIMPSE GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2024 AND 2023

Intangible assets, their respective amortization period, and accumulated amortization at June 30, 2024 and 2023 are as follows:

	As of June 30, 2024
	Value ($)															Amortization Period (Years)
	XR Terra			Pulpo			BLI			inciteVR			Total
Intangible Assets
Customer Relationships - beginning of year	$	-		$	-		$	3,310,000		$	-		$	3,310,000		5
Customer Relationships - impairment								(3,310,000	)					(3,310,000	)
Customer Relationships - end of year		-			-			-			-			-
Technology - beginning of year		300,000			925,000			880,000			326,435			2,431,435		3
Technology impairment		-			(925,000	)		-			-			(925,000	)
Technology - end of year		300,000			-			880,000			326,435			1,506,435
Less: Accumulated Amortization		(274,995	)		-			(562,214	)		(181,359	)		(1,018,568	)
Intangible Assets, net	$	25,005		$	-		$	317,786		$	145,076		$	487,867

	As of June 30, 2023
	Value ($)																					Amortization Period (Years)
	XR Terra			S5D			AUGGD			Pulpo			BLI			inciteVR			Total
Intangible Assets
Customer Relationships - beginning of year	$	-		$	2,820,000		$	250,000		$	-		$	-		$	-		$	3,070,000		3-5
Customer Relationships additions		-			-			-			-			3,310,000			-			3,310,000		5
Customer Relationships impairment		-			(2,820,000	)		(250,000	)		-			-			-			(3,070,000	)
Customer Relationships - end of year		-			-			-			-			3,310,000			-			3,310,000
Technology - beginning of year		300,000			-			250,000			925,000			-			-			1,475,000		3
Technology additions		-			-			-			-			880,000			326,435			1,206,435		3
Technology impairment		-			-			(250,000	)		-			-			-			(250,000	)
Technology - end of year		300,000			-			-			925,000			880,000			326,435			2,431,435
Less: Accumulated Amortization		(174,995	)		-			-			(334,025	)		(875,722	)		(72,542	)		(1,457,284	)
Intangible Assets, net	$	125,005		$	-		$	-		$	590,975		$	3,314,278		$	253,893		$	4,284,151

Intangible asset amortization expense for the years ended June 30, 2024 and 2023 was approximately $1.24 million and $2.05 million, respectively.

THE GLIMPSE GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2024 AND 2023

Amortization attributable to Pulpo was $0.08 million and $0.30 million for the year ended June 30, 2024 and 2023, respectively.

Amortization attributable to BLI customer relationships was $0.66 million and $0.61 million for the year ended June 30, 2024 and 2023, respectively.

Amortization attributable to S5D and AUGGD was $0.69 million for the year ended June 30, 2023.

Estimated intangible asset amortization expense for the remaining lives are as follows:

Years Ended June 30,
2025	$	427,000
2026	$	61,000