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Goodwill and Intangible Assets

3 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

There were no changes in the net carrying value of goodwill during the three months ended September 30, 2021.

Identifiable intangible assets were comprised of:

		Useful Lives (Years)			September 30, 2021				June 30, 2021
Customer relationships		15			$	3,590,000			$	3,590,000
Trade secrets		8				3,272,000				3,272,000
Trademarks		8				3,814,000				3,814,000
Total intangible assets						10,676,000				10,676,000
Less accumulated amortization						(5,374,390	)			(5,093,119	)
Total intangible assets, net					$	5,301,610			$	5,582,881

Future amortization of identifiable intangibles is as follows:

Fiscal year ending:
June 30, 2022 (remaining nine months)			843,812
June 30, 2023			1,125,083
June 30, 2024			1,125,083
June 30, 2025			658,398
After June 30, 2025			1,549,234
		$	5,301,610

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and 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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