(4) Intangible Assets

12 Months Ended

Jun. 30, 2015

Notes

(4) Intangible Assets

(4)  Intangible Assets

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

			2015		2014
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
Total identifiable intangibles			700,000		773,240
Less accumulated amortization			(509,197)		(537,800)
	Net carrying amount	$	190,803	$	235,440

Amortization expense associated with the intangible assets was $44,637 and $96,529 for the fiscal years ended June 30, 2015 and 2014, respectively. Estimated amortization expense for the identifiable intangibles is expected to be as follows: 2016, $30,680; 2017, $30,680; 2018, $26,430; 2019, $26,430; 2020, $26,430 and thereafter $50,153.