Goodwill and Other Intangible Assets

3 Months Ended

Sep. 30, 2011

Notes to Financial Statements

Goodwill and Other Intangible Assets

In conjunction with the acquisition of Altamira, management of the Company valued the tangible and intangible assets acquired, including customer relationships, non-compete agreements and technology which encompasses trade names, trademarks and licenses. The valuation resulted in an initial negative goodwill of approximately $91,500 on the date of acquisition which was subsequently adjusted to positive goodwill of $447,900 as of September 30, 2011 and June 30, 2011, all of which was deductible for tax purposes. The agreement provided for contingent payments to the former shareholders based on net sales of the Catalyst Research Instrument Operations subject to certain limits, which were earned and paid.

The components of other intangible assets are as follows:

	Useful Lives	Cost	Accumulated Amortization	Net
At September 30, 2011:
Technology	5 yrs	$     300,000	$     290,000	$     10,000
Customer relationships	10 yrs	237,000	183,200	53,800
Non-compete agreement	5 yrs	102,000	98,600	3,400
Other intangible assets	5 yrs	140,300	122,200	18,100
		$     779,300	$     694,000	$     85,300
	Useful Lives	Cost	Accumulated Amortization	Net
At June 30, 2011:
Technology	5 yrs	$     300,000	$     275,000	$     25,000
Customer relationships	10 yrs	237,000	177,200	59,800
Non-compete agreement	5 yrs	102,000	93,500	8,500
Other intangible assets	5 yrs	139,000	120,000	19,000
		$     778,000	$     665,700	$   112,300