8. Goodwill and Other Intangible Assets

6 Months Ended

Dec. 31, 2014

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 $705,300 as of December 31, 2014 and June 30, 2014, 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, 2014:
Technology, trademarks		5/10 yrs.	$	1,226,800	$	556,600	$	670,200
Trade names		6 yrs.		140,000		19,400		120,600
Websites		5 yrs.		210,000		35,000		175,000
Customer relationships		9/10 yrs.		357,000		227,300		129,700
Sublicense agreements		10 yrs.		294,000		91,900		202,100
Non-compete agreements		5 yrs.		384,000		154,500		229,500
IPR&D		3 yrs.		110,000		30,500		79,500
Other intangible assets		5 yrs.		160,800		144,300		16,500
			$	2,882,600	$	1,259,500	$	1,623,100
		Useful Lives		Cost		Accumulated Amortization		Net
At June 30, 2014:
Technology,  trademarks		5/10 yrs.	$	1,226,800	$	489,100	$	737,700
Trade names		6 yrs.		140,000		7,800		132,200
Websites		5 yrs.		210,000		14,000		196,000
Customer relationships		9/10 yrs.		357,000		215,800		141,200
Sublicense agreements		10 yrs.		294,000		77,200		216,800
Non-compete agreements		5 yrs.		384,000		126,300		257,700
IPR&D		3 yrs.		110,000		12,200		97,800
Other intangible assets		5 yrs.		157,400		140,900		16,500
			$	2,879,200	$	1,083,300	$	1,795,900

Total amortization expense was $88,200 and $28,100 for the three months ended December 31, 2014 and 2013, respectively and $176,300 and $56,200 for the six months ended December 31, 2014 and 2013 respectively. As of December 31, 2014, estimated future amortization expense related to intangible assets is $174,400 for the remainder of the fiscal year ending June 30, 2015, $352,400 for fiscal 2016, $337,100 for fiscal 2017, $323,300 for fiscal 2018, $244,800 for fiscal 2019, and $191,100 thereafter.