Annual report pursuant to Section 13 and 15(d)

Intangible Assets, net

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Intangible Assets, net
12 Months Ended
Jun. 30, 2013
Intangible Assets Net  
Intangible Assets, net
4. Intangible Assets,
net

Franchise license, trademarks and other intangible assets consist of the following:

 

    Estimated
Useful Lives
(in years)
  June 30,
2013
  June 30,
2012
             
Franchise license agreements     10     $ 529,500     $ 529,500  
Trademarks, patents and
  Tradenames
    10-15       230,075       230,129  
              759,575       759,629  
Accumulated amortization             (706,376 )     (693,739 )
            $ 53,199     $ 65,890  

 

 

Amortization expense was $12,690 in fiscal 2013 and $13,389 in fiscal 2012.

Based on the carrying amount of intangibles as of June 30, 2013, and assuming no future impairment of the underlying assets, the estimated future amortization at the end of each fiscal year is as follows:

 

Years ending June 30,    
     
2014   $ 12,194  
2015     8,141  
2016     7,398  
2017     6,469  
2018     6,469  
2019-2020     12,528  
   Total   $ 53,199