8. Goodwill and Other Intangible Assets

9 Months Ended

Mar. 31, 2014

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 acquisitions. Goodwill amounted to $705,300 and $589,900 as of March 31, 2014 and June 30, 2013, respectively, all of which is deductible for tax purposes.

The components of other intangible assets are as follows:

	Useful		Accumulated
	Lives	Cost	Amortization	Net
At March 31, 2014:
Technology, trademarks	5/10 yrs.	$1,226,800 $	455,300	$ 771,500
Trade names	6 yrs.	140,000	1,900	138,100
Websites	5 yrs.	210,000	3,500	206,500
Customer relationships	9/10 yrs.	357,000	210,700	146,300
Sublicense agreements	10 yrs.	294,000	69,800	224,200
Non-compete agreements	5 yrs.	384,000	112,200	271,800
IPR&D	3 yrs.	110,000	3,100	106,900
Other intangible assets	5 yrs.	157,400	139,700	17,700
		$2,879,200	$ 996,200	$1,883,000

	Useful		Accumulated
	Lives	Cost	Amortization	Net
At June 30, 2013:
Technology, trademarks	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 $47,500 and $27,900 for the three months ended March 31, 2014 and 2013, respectively and $103,400 and $85,200 for the nine months ended March 31, 2014 and 2013, respectively. As of March 31, 2014, estimated future amortization expense related to intangible assets is $87,500 for the remainder of the fiscal year ending June 30, 2014, $347,600 for fiscal 2015, $351,800 for fiscal 2016, $336,600 for fiscal 2017, $322,100 for fiscal 2018, and $437,400 thereafter.