Annual report pursuant to Section 13 and 15(d)

Intangible Assets, net

v3.5.0.2
Intangible Assets, net
12 Months Ended
Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, net

6. Intangible Assets,
    Net

License, trademarks and other intangible assets consist of the following:

 

   

Estimated

Useful Lives

(in years)

 

June 30,

2016

  June 30,
2015
             
License agreements   10   $ 529,500     $ 529,500  
Trademarks, patents and
  Tradenames
  10-15     225,700       230,075  
          755,200       759,575  
Accumulated amortization         (728,556 )     (726,093 )
        $ 26,644     $ 33,482  

 

 

 

Amortization expense was approximately $6,800 in fiscal 2016 and $7,400 in fiscal 2015.

Based on the carrying amount of intangible assets as of June 30, 2016, and assuming no future impairment of the underlying assets, the estimated future amortization at the end of each fiscal year is as follows:

Fiscal years ending June 30,    
     
     
2017   $ 6,818  
2018     6,718  
2019     6,718  
2020     6,295  
2021     95  
         
    Total   $ 26,644