8. Goodwill and Other Intangible Assets

6 Months Ended

Dec. 31, 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 December 31, 2012 and June 30, 2012, all of which is deductible for tax purposes.

The components of other intangible assets are as follows:

	Useful Lives	Cost		Accumulated Amortization		Net
At December 31, 2012:
Technology	5/10 yrs.	$	864,000	$	370,600	$	493,400
Customer relationships	10 yrs.		237,000		198,400		38,600
Sublicense agreements	10 yrs.		294,000		33,100		260,900
Non-compete agreements	5 yrs.		120,000		106,000		14,000
Other intangible assets	5 yrs.		146,000		130,800		15,200
		$	1,661,000	$	838,900	$	822,100
	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 $28,600 and $33,000 for the three months ended December 31, 2012 and 2011, respectively and $57,400 and $61,300 for the six months ended December 31, 2012 and 2011, respectively.  As of December 31, 2012, estimated future amortization expense related to intangible assets is $56,900 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 $348,000 thereafter.