8. Goodwill and Other Intangible Assets

3 Months Ended

Sep. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in connection with the Company's acquisition of Altamira and SBI’s acquisition of assets. Goodwill amounted to $589,900 as of September 30, 2012 and June 30, 2012, all of which is expected to be deductible for tax purposes.

The components of other intangible assets are as follows:

	Useful Lives	Cost		Accumulated Amortization		Net
At September 30, 2012:
Technology	5/10 yrs.	$	864,000	$	354,900	$	509,100
Customer relationships	10 yrs.		237,000		195,400	$	41,600
Sublicense agreements	10 yrs.		294,000		25,700	$	268,300
Non-compete agreements	5 yrs.		120,000		105,200	$	14,800
Other intangible assets	5 yrs.		146,000		129,200	$	16,800
		$	1,661,000	$	810,400	$	850,600

	Useful Lives	Cost		Accumulated Amortization		Net
At June 30, 2012:
Technology	5/10 yrs.	$	864,000	$	339,300	$	524,700
Customer relationships	10 yrs.		237,000		192,100	$	44,900
Sublicense agreements	10 yrs.		294,000		18,400	$	275,600
Non-compete agreements	5 yrs.		120,000		104,300	$	15,700
Other intangible assets	5 yrs.		143,900		127,500	$	16,400
		$	1,658,900	$	781,600	$	877,300

Total amortization expense was $28,800 and $28,300 for the three months ended September 30, 2012 and 2011, respectively.As of September 30, 2012, estimated future amortization expense related to intangible assets is $85,500 for the remainder of the fiscal year ending June 30, 2013, $108,800 for fiscal 2014, $105,200 for fiscal 2015, $109,400 for fiscal 2016, $93,800 for fiscal 2017, and $347,900 thereafter.