7. Goodwill and Other Intangible Assets

6 Months Ended

Dec. 31, 2016

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 acquisitions. Goodwill amounted to $705,300 as of December 31, 2016 and June 30, 2016, all of which is expected to be deductible for tax purposes.

The components of other intangible assets are as follows:

	Useful Lives	Cost		Accumulated Amortization		Net
At December 31, 2016:
Technology, trademarks	5/10 yrs.	$	722,800	$	510,900	$	211,900
Trade names	6 yrs.		140,000		66,100		73,900
Websites	5 yrs.		210,000		119,000		91,000
Customer relationships	9/10 yrs.		357,000		274,800		82,200
Sublicense agreements	10 yrs.		294,000		150,700		143,300
Non-compete agreements	5 yrs.		384,000		267,300		116,700
Intellectual property,Reasearch & Development (IPR&D)	3 yrs.		110,000		103,900		6,100
Other intangible assets	5 yrs.		192,700		159,500		33,200
		$	2,410,500	$	1,652,200	$	758,300

	Useful Lives	Cost		Accumulated Amortization		Net
At June 30, 2016:
Technology,  trademarks	5/10 yrs.	$	722,800	$	468,800	$	254,000
Trade names	6 yrs.		140,000		54,400		85,600
Websites	5 yrs.		210,000		98,000		112,000
Customer relationships	9/10 yrs.		357,000		261,600		95,400
Sublicense agreements	10 yrs.		294,000		136,000		158,000
Non-compete agreements	5 yrs.		384,000		239,100		144,900
Intellectual property,Reasearch & Development (IPR&D)	3 yrs.		110,000		85,500		24,500
Other intangible assets	5 yrs.		177,900		154,700		23,200
		$	2,395,700	$	1,498,100	$	897,600

Total amortization expense was $76,200 and $87,500 for the three months ended December 31, 2016 and 2015, respectively and $154,100 and $173,800 for the six months ended December 31, 2016 and 2015, respectively. As of December 31, 2016, estimated future amortization expense related to intangible assets is $143,300 for the remainder of the fiscal year ending June 30, 2017, $288,500 for fiscal 2018, $210,600 for fiscal 2019, $45,100 for fiscal 2020, $43,500 for fiscal 2021 and $27,300 thereafter.