8. Goodwill and Other Intangible Assets

9 Months Ended

Mar. 31, 2013

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 March 31, 2013 and June 30, 2012, respectively, all of which is deductible for tax purposes.

The components of other intangible assets are as follows:

	Useful Lives	Cost		Accumulated Amortization		Net
At March 31, 2013:
Technology, trademarks	5/10 yrs.	$	864,000	$	386,300	$	477,700
Customer relationships	10 yrs.		237,000		200,800		36,200
Sublicense agreements	10 yrs.		294,000		40,400		253,600
Non-compete agreements	5 yrs.		120,000		107,000		13,000
Other intangible assets	5 yrs.		146,000		132,300		13,700
		$	1,661,000	$	866,800	$	794,200

	Useful Lives	Cost		Accumulated Amortization		Net
At June 30, 2012:
Technology, trademarks	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 $27,900 and $26,300 for the three months ended March 31, 2013 and 2012, respectively and $85,200 and $87,600 for the nine months ended March 31, 2013 and 2012, respectively.  As of March 31, 2013, estimated future amortization expense related to intangible assets is $29,000 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.