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Goodwill and Intangible Assets
 3 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

There were no changes in the net carrying value of goodwill during the three months ended September 30, 2018.

 

Identifiable intangible assets were comprised of:

 

  Useful  September 30,      June 30,    
  Lives (Years)  2018    2018   
 Customer relationships     15    $ 3,590,000     $ 3,590,000  
 Backlog     2      366,000       366,000  
 Trade secrets     8      3,272,000       3,272,000  
 Trademarks     8      3,814,000       3,814,000  
 Non-compete agreement     3      27,000       27,000  
 Total intangible assets       11,069,000       11,069,000  
 Less accumulated amortization       (2,340,301 )     (2,011,030 )
 Total intangible assets, net     $ 8,728,699     $ 9,057,970  

 

Future amortization of identifiable intangibles is as follows:

 

Fiscal year ending:      
 June 30, 2019 (remaining nine months)   $ 891,393  
 June 30, 2020     1,129,342  
 June 30, 2021     1,125,083  
 June 30, 2022     1,125,083  
 June 30, 2023 and later     4,457,798  
    $ 8,728,699