Annual report pursuant to Section 13 and 15(d)

Intangible Assets, net

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Intangible Assets, net
12 Months Ended
Jun. 30, 2015
Intangible Assets, net [Abstract]  
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,
2015
  June 30,
2014
             
Franchise license agreements     10     $ 529,500     $ 529,500  
Trademarks, patents and
  Tradenames
    10-15       230,075       230,075  
              759,575       759,575  
Accumulated amortization             (726,093 )     (718,695 )
            $ 33,482     $ 40,880  

 

 

Amortization expense was $7,399 in fiscal 2015 and $12,319 in fiscal 2014.


Based on the carrying amount of intangibles as of June 30, 2015, 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,    
     
     
2016   $ 7,017  
2017     7,017  
2018     6,915  
2019     6,468  
2020     6,065  

   
 
   Total   $ 33,482