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Goodwill and Intangible Assets

6 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets

Goodwill And Intangible Assets

6. Goodwill and Intangible Assets

There were no changes in the net carrying value of goodwill during the six months ended December 31, 2022.

Identifiable intangible assets were comprised of:

		Useful Lives (Years)			December 31, 2022				June 30, 2022
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						(6,780,744	)			(6,218,202	)
Total intangible assets, net					$	3,895,256			$	4,457,798

Future amortization of identifiable intangibles is as follows:

Fiscal year ending:
June 30, 2023 (remaining six months)			562,541
June 30, 2024			1,125,083
June 30, 2025			658,398
June 30, 2026			239,334
After June 30, 2026			1,309,900
		$	3,895,256

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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 https://asc.fasb.org/topic&trid=2144416

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