Patents

9 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Patents

6. Patents

The costs of acquiring or processing patents are capitalized at cost. These amounts are being amortized using the straight-line method over the estimated useful lives of the underlying assets, which is approximately 17 years. Patents totaled $710,070 and $604,916 at March 31, 2017 and June 30, 2016, respectively. Amortization expense for the three months ended March 31, 2017 and 2016 was $27,877and $23,090, respectively, and for the nine months ended March 31, 2017 and 2016 was $80,602 and $69,897, respectively.

The following is a schedule of estimated future patent amortization expense as of March 31, 2017:

2017	$	28,239
2018		110,790
2019		102,484
2020		79,055
2021		72,884
Thereafter		316,618
	$	710,070