NOTE 7 - OTHER INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2015

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, 2015 and 2014 are comprised of:

	As of June 30,
	2015		2014
Capitalized software development costs	$	7,004,847	$	7,418,436
Patents and copyrights		4,547,545		4,408,011
Non-competition agreements		4,100,000		4,100,000
Customer relationships		3,800,000		3,800,000
		19,452,392		19,726,447
Less: Accumulated amortization		10,502,232		9,217,604
	$	8,950,160	$	10,508,843

Information related to the above intangible assets for the years ended June 30, 2015, 2014 and 2013 is as follows:

	As of June 30,
	2015			2014			2013
Balance – Beginning of Year	$	10,508,843		$	11,904,248		$	3,835,179
Amounts capitalized		139,534			214,211			9,359,907
Abandon software or patents written off		(413,589	)		(250,523	)		(66,619	)
Impairment of management agreement		—			—			(357,500	)
Amortization		(1,284,628	)		(1,359,093	)		(866,719	)
Balance – End of Year	$	8,950,160		$	10,508,843		$	11,904,248

Amortization of patents and copyrights for the years ended June 30, 2015, 2014 and 2013 amounted to $183,272, $178,836 and $168,631, respectively.

Amortization of capitalized software development costs for the years ended June 30, 2015, 2014 and 2013 was $325,642, $407,876 and $335,350, respectively.

Amortization of management agreement for the years ended June 30, 2015, 2014 and 2013 amounted to $0, $0 and $100,833, respectively.

Amortization of non-competition agreements for the years ended June 30, 2015, 2014 and 2013 amounted to $585,714, $585,714 and $195,238, respectively.

Amortization of customer relationships for the years ended June 30, 2015, 2014 and 2013 amounted to $190,000, $186,667 and $66,667, respectively.

The estimated amortization of other intangible assets for the five years ending June 30, 2020 and thereafter is as follows:

For the Years Ending June 30,		Total		Patents and Copyrights		Capitalized Software Development Costs		Non- competition		Customer Relation-ships
	2016	$	1,262,929	$	195,404	$	291,811	$	585,714	$	190,000
	2017		1,246,672		210,958		260,000		585,714		190,000
	2018		1,169,983		220,936		173,333		585,714		190,000
	2019		1,002,736		227,022		—		585,714		190,000
	2020		797,458		216,981		—		390,477		190,000
	Thereafter		3,470,382		1,063,715		—		—		2,406,667
		$	8,950,160	$	2,135,016	$	725,144	$	2,733,333	$	3,356,667

The weighted average amortization period for other intangible assets is 10.9 years and they have no expected residual value.