NOTE 7 - OTHER INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 7 - OTHER INTANGIBLE ASSETS

NOTE 7 - OTHER INTANGIBLE ASSETS

Other intangible assets, net of accumulated amortization, at June 30, 2012 and 2011 are comprised of:

	As of June 30,
	2012		2011
Capitalized software development costs	$	6,368,960	$	6,368,960
Patents and copyrights		4,100,511		4,030,579
Management agreement		513,333		513,333
		10,982,804		10,912,872
Less: Accumulated amortization		7,147,625		6,594,561
	$	3,835,179	$	4,318,311

Information related to the above intangible assets for the years ended June 30, 2012 and 2011 is as follows:

	2012			2011
Balance – Beginning of Year	$	4,318,311		$	4,291,419
Amounts capitalized		146,163			715,801
Abandon patents written off		(76,231	)		(79,958	)
Amortization		(553,064	)		(608,951	)
Balance – End of Year	$	3,835,179		$	4,318,311

Amortization of patents and copyrights for the years ended June 30, 2012 and 2011 amounted to $156,310 and $142,049, respectively.

Amortization of capitalized software development costs for the years ended June 30, 2012 and 2011 was $360,087 and $448,569, respectively.

Amortization of management agreement for the years ended June 30, 2012 and 2011 amounted to $36,667 and $18,333, respectively.

The estimated amortization of patents and copyrights and capitalized software development costs for the five years ending June 30, 2017 and thereafter is as follows:

For the Years Ending June 30,		Total		Patents and Copyrights		Capitalized Software Development Costs		Management Agreement
	2013	$	496,776	$	174,025	$	286,084	$	36,667
	2014		449,502		190,159		222,676		36,667
	2015		420,802		206,293		177,842		36,667
	2016		439,926		221,848		181,411		36,667
	2017		453,001		229,334		187,000		36,667
	Thereafter		1,575,172		1,197,062		103,112		274,998
		$	3,835,179	$	2,218,721	$	1,158,125	$	458,333

The weighted average amortization period for other intangible assets is 9.6 years and they have no expected residual value.