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ACQUIRED INTANGIBLE ASSETS (Tables)

9 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Calculation of Acquired Intangibles by Asset Class

			As of March 31, 2021
			Cost						Accumulated Amortization						Net
Technology assets			$	1,002,970					$	(582,511)					$	420,459
Customer assets			1,418,736						(547,399)						871,337
Total			$	2,421,706					$	(1,129,910)					$	1,291,796
			As of June 30, 2020
			Cost						Accumulated Amortization						Net
Technology assets			$	1,084,144					$	(502,376)					$	581,768
Customer assets			1,434,832						(404,036)						1,030,796
Total			$	2,518,976					$	(906,412)					$	1,612,564

Calculation of Estimated Future Amortization Expense

The following table shows the estimated future amortization expense for the fiscal years indicated. This calculation assumes no future adjustments to acquired intangible assets:

Fiscal years ending June 30,
2021 (three months ended)			$	105,459
2022			398,732
2023			316,753
2024			235,776
2025			123,345
2026 and beyond			111,731
Total			$	1,291,796

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- References

No definition available.

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- Definition

Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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