GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 7. GOODWILL AND INTANGIBLE ASSETS

The composition of goodwill at December 31 and June 30, 2024 is as follows:

	At December 31 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 at December 31 and June 30, 2024 are as follows:

	At December 31, 2024
	Value ($)												Amortization Period (Years)
	XR Terra			BLI			Glimpse Learning			Total
Intangible Assets
Technology		300,000			880,000			326,435			1,506,435			3
Less: Accumulated Amortization		(300,000	)		(708,878	)		(235,768	)		(1,244,646	)
Intangible Assets, net	$	-		$	171,122		$	90,667		$	261,789

	As of June 30, 2024
	Value ($)												Amortization Period (Years)
	XR Terra			BLI			Glimpse Learning			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 and six months ended December 31, 2024 was approximately $0.10 million and $0.23 million, respectively. Intangible asset amortization expense for the three and six months ended December 31, 2023 was approximately $0.29 million and $0.66 million, respectively.

Estimated intangible asset amortization expense as of December 31, 2024 for the remaining lives are as follows:

Years Ended June 30,
2025 (remaining 6 months)	$	201,570
2026	$	60,219

THE GLIMPSE GROUP, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS