Intangible Assets - net

12 Months Ended

Jun. 30, 2013

Intangible Assets - Net

Intangible Assets - net

5.   Intangible Assets – net

Intangible assets consist of the following:

	June 30, 2013			June 30, 2012
Gross carrying amount	$	621,302		$	621,302
Accumulated amortization		(585,905	)		(553,037	)
Net carrying amount	$	35,397		$	68,265

Amortization expense related to intangible assets totaled approximately $33,000 during the fiscal years ended June 30, 2013 and 2012.

The amount of the June 30, 2013, net intangible asset value is expected to be fully amortized by the end of fiscal 2015, with annual amortization estimated as follows:

2014	2015	Total
32,868	2,529	35,397