8. Goodwill and Other Intangible Assets

6 Months Ended

Dec. 31, 2015

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, 2015 and June 30, 2015, 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, 2015:
Technology, trademarks	5/10 yrs.	$	1,215,800	$	682,600	$	533,200
Trade names	6 yrs.		140,000		42,800		97,200
Websites	5 yrs.		210,000		77,000		133,000
Customer relationships	9/10 yrs.		357,000		246,500		110,500
Sublicense agreements	10 yrs.		294,000		121,300		172,700
Non-compete agreements	5 yrs.		384,000		210,900		173,100
Intellectual Property, Research and Development (IPR&D)	3 yrs.		110,000		67,200		42,800
Other intangible assets	5 yrs.		169,800		151,100		18,700
		$	2,880,600	$	1,599,400	$	1,281,200

	Useful Lives	Cost		Accumulated Amortization		Net
At June 30, 2015:
Technology,  trademarks	5/10 yrs.	$	1,226,800	$	624,200	$	602,600
Trade names	6 yrs.		140,000		31,100		108,900
Websites	5 yrs.		210,000		56,000		154,000
Customer relationships	10 yrs.		357,000		236,200		120,800
Sublicense agreements	10 yrs.		294,000		106,600		187,400
Non-compete agreements	5 yrs.		384,000		182,700		201,300
Intellectual Property, Research and Development (IPR&D)	3 yrs.		110,000		48,900		61,100
Other intangible assets	5 yrs.		164,000		148,200		15,800
		$	2,885,800	$	1,433,900	$	1,451,900

Total amortization expense was $87,500 and $88,200 for the three months ended December 31, 2015 and 2014, respectively and $173,800 and $176,300 for the six months ended December 31, 2015 and 2014, respectively. As of December 31, 2015, estimated future amortization expense related to intangible assets is $160,600 for the remainder of the fiscal year ending June 30, 2016, $337,000 for fiscal 2017, $324,000 for fiscal 2018, $246,600 for fiscal 2019, $80,400 for fiscal 2020 and $132,600 thereafter.