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Goodwill and Intangible Assets

9 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

There were no changes in the net carrying value of goodwill during the nine months ended March 31, 2019, and there have been no events of changes in circumstances that indicate the carrying value of goodwill may not be recoverable.

Identifiable intangible assets were comprised of:

		Useful				March 31,				June 30,
		Lives (Years)				2019				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							(2,948,174	)			(2,011,030	)
Total intangible assets, net						$	8,120,826			$	9,057,970

Future amortization of identifiable intangibles is as follows:

Fiscal year ending:
June 30, 2019 (remaining three months)		$	283,520
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
		$	8,120,826