NOTE 7 - OTHER INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 7 - OTHER INTANGIBLE ASSETS

FONAR CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2019, 2018 and 2017

NOTE 7 - OTHER INTANGIBLE ASSETS

Other intangible assets, net of accumulated amortization, at June 30, 2019 and 2018 are comprised of:

	As of June 30,
	2019		2018
Capitalized software development costs	$	7,004,847	$	7,004,847
Patents and copyrights		4,964,199		4,835,806
Non-competition agreements		4,100,000		4,100,000
Customer relationships		3,800,000		3,800,000
		19,869,046		19,740,653
Less: Accumulated amortization		15,113,371		14,138,997
	$	4,755,675	$	5,601,656

The estimated amortization of other intangible assets for the five years ending June 30, 2024 and thereafter is as follows:

For the Years Ending June 30,		Total		Patents and Copyrights		Non- competition		Customer Relationships
	2020	$	771,830	$	191,353	$	390,477	$	190,000
	2021		381,860		191,860		—		190,000
	2022		380,470		190,470		—		190,000
	2023		383,929		193,929		—		190,000
	2024		375,561		185,561		—		190,000
	Thereafter		2,462,025		815,358		—		1,646,667
		$	4,755,675	$	1,768,531	$	390,477	$	2,596,667

The weighted average amortization period for other intangible assets is 11.5 years and they have no expected residual value.

 Information related to the above intangible assets for the years ended June 30, 2019, 2018 and 2017 is as follows:

	As of June 30,
	2019			2018			2017
Balance – Beginning of Year	$	5,601,656		$	6,644,504		$	7,719,358
Amounts capitalized		128,393			108,829			155,156
Software or patents written off		—			—			—	)
Amortization		(974,374	)		(1,151,677	)		(1,230,010	)
Balance – End of Year	$	4,755,675		$	5,601,656		$	6,644,504

Amortization of patents and copyrights for the years ended June 30, 2019, 2018 and 2017 amounted to $198,660, $202,630 and $194,296, respectively.

Amortization of capitalized software development costs for the years ended June 30, 2019, 2018 and 2017 was $0, $173,333 and $260,000, respectively.

Amortization of non-competition agreements for the years ended June 30, 2019, 2018 and 2017 amounted to $585,714, $585,714 and $585,714, respectively.

Amortization of customer relationships for the years ended June 30, 2019, 2018 and 2017 amounted to $190,000, $190,000 and $190,000, respectively.