INTANGIBLE ASSET – PURCHASED SOFTWARE, NET (Tables)

6 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

SCHEDULE OF INTANGIBLE ASSET

Intangible asset – Purchased Software, net, is comprised of the following at:

	December 31,			June 30,
	2021			2021
Purchased software	$	3,875,256		$	3,905,228
Less: accumulated amortization		(2,275,323	)		(1,826,181	)
Purchased software, net	$	1,599,933		$	2,079,047

SCHEDULE OF INTANGIBLE ASSET BY DEVELOPED SOFTWARE

Intangible asset – Purchased Software consists of the following three software technologies:

Alpha Predictions developed software	$	448,255
Travel Buddhi developed software		114,420
CloseComms developed software		1,037,258
Total developed software	$	1,599,933

SCHEDULE OF FUTURE AMORTIZATION EXPENSE

Future amortization expense related to the existing net carrying amount of developed software at December 31, 2021 is expected to be as follows:

Remainder of fiscal year 2022	$	402,668
Fiscal year 2023		564,743
Fiscal year 2024		415,325
Fiscal year 2025		217,197
	$	1,599,933

mPHASE TECHNOLOGIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED DECEMBER 31, 2021 AND 2020

(UNAUDITED)