8. Goodwill and Other Intangible Assets

6 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

8. 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, 2013 and June 30, 2013, 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, 2013:
Technology	5/10 yrs.	$	865,900	$	433,600	$	432,300
Customer relationships	10 yrs.		237,000		207,800		29,200
Sublicense agreements	10 yrs.		294,000		62,500		231,500
Non-compete agreements	5 yrs.		114,000		107,100		6,900
Other intangible assets	5 yrs.		157,400		138,000		19,400
		$	1,668,300	$	949,000	$	719,300
	Useful Lives		Cost		Accumulated Amortization		Net
At June 30, 2013:
Technology	5/10 yrs.	$	865,400	$	402,100	$	463,300
Customer relationships	10 yrs.		237,000		203,200		33,800
Sublicense agreements	10 yrs.		294,000		47,800		246,200
Non-compete agreements	5 yrs.		114,000		105,900		8,100
Other intangible assets	5 yrs.		156,000		133,900		22,100
		$	1,666,400	$	892,900	$	773,500

Total amortization expense was $28,100 and $28,600 for the three months ended December 31, 2013 and 2012, respectively and $56,200 and $57,400 for the six months ended December 31, 2013 and 2012, respectively. As of December 31, 2013, estimated future amortization expense related to intangible assets is $54,600 for the remainder of the fiscal year ending June 30, 2014, $106,600 for fiscal 2015, $110,800 for fiscal 2016, $95,600 for fiscal 2017, $81,100 for fiscal 2018, and $270,600 thereafter.