(4) Intangible Assets

12 Months Ended

Jun. 30, 2014

Notes

(4) Intangible Assets

(4)     Intangible Assets

Identifiable intangible assets and their useful lives consist of the following as of June 30:

			2014	2013
Trade name –15 years		$	339,400	339,400
Domain name –15 years			5,400	5,400
Non-compete covenant –4 years			149,400	149,400
Customer relationships –7 years			120,000	120,000
Trademark licensing agreement –20 years			45,000	45,000
Backlog of orders –3 months			2,700	2,700
Customer database –7 years			38,100	38,100
License agreement –10 years			73,240	73,240
Total identifiable intangibles			773,240	773,240
Less accumulated amortization			(537,800)	(493,162)
	Net carrying amount	$	235,440	280,078

Amortization expense associated with the intangible assets was $44,637 for both fiscal years 2014 and 2013. Estimated amortization expense for the identifiable intangibles is expected to be as follows: 2015, $30,680; 2016, $30,680; 2017, $30,680; 2018, $26,430; 2019, $26,430 and thereafter $90,540.