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ACQUIRED INTANGIBLE ASSETS

3 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

ACQUIRED INTANGIBLE ASSETS

ACQUIRED INTANGIBLE ASSETS

			As of September 30, 2021
			Cost						Accumulated Amortization						Net
Technology assets			$	1,002,506					$	(688,550)					$	313,956
Customer assets			1,385,247						(618,511)						766,736
Total			$	2,387,753					$	(1,307,061)					$	1,080,692
			As of June 30, 2021
			Cost						Accumulated Amortization						Net
Technology assets			$	1,003,730					$	(635,965)					$	367,765
Customer assets			1,386,533						(567,038)						819,495
Total			$	2,390,263					$	(1,203,003)					$	1,187,260

The weighted average amortization periods for acquired technology and customer intangible assets are approximately five years and seven years, respectively.

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,
2022 (nine months ended)			$	293,631
2023			316,603
2024			235,514
2025			123,291
2026			79,481
Thereafter			32,172
Total			$	1,080,692

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- References

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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