GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 6. GOODWILL AND INTANGIBLE ASSETS

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

	As of September 30 and June 30, 2024
	XRT		BLI		Total
Goodwill	$	300,000	$	10,557,600	$	10,857,600

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

	As of September 30, 2024
	Value ($)												Amortization Period (Years)
	XR Terra			BLI			inciteVR			Total
Intangible Assets
Technology		300,000			880,000			326,435			1,506,435			3
Less: Accumulated Amortization		(300,000	)		(635,546	)		(208,563	)		(1,144,109	)
Intangible Assets, net	$	-		$	244,454		$	117,872		$	362,326

THE GLIMPSE GROUP, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	As of June 30, 2024
	Value ($)												Amortization Period (Years)
	XR Terra			BLI			inciteVR			Total
Intangible Assets
Technology		300,000			880,000			326,435			1,506,435			3
Less: Accumulated Amortization		(274,995	)		(562,214	)		(181,359	)		(1,018,568	)
Intangible Assets, net	$	25,005		$	317,786		$	145,076		$	487,867

Intangible asset amortization expense for the three months ended September 30, 2024 and 2023 was approximately $0.13 million and $0.37 million, respectively.

Estimated intangible asset amortization expense for the remaining lives as of September 30, 2024 are as follows: 

Years Ended June 30,
2025 (remaining 9 months)	$	302,000
2026	$	60,000