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Finite-life Intangible Assets
 3 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Finite-life Intangible Assets

Note 3. Finite-life Intangible Assets

 

The carrying value of patents and trademarks includes the original cost of obtaining the patents, periodic renewal fees, and other costs associated with maintaining and defending patent and trademark rights. Patents and trademarks are amortized over their estimated useful lives, generally 15 and 12 years, respectively. There were no abandonments of domestic or foreign patents that occurred during the three months ended September 30, 2017. During the year ended June 30, 2017, the Company abandoned certain domestic and foreign patents with net values of approximately $133,000 which were included as an expense in selling, general and administrative expense on the statements of operations. The majority of the pending patents that were abandoned related to the initial development of our SQL SmartVest technology. During a review of the Company’s patent portfolio it was determined that certain patents proved redundant to a subsequent SQL patent filing and were therefore abandoned. A smaller portion of expense was related to patents that covered technology that management considered outdated, and was no longer in use. Accumulated amortization was $825,000 and $790,000 at September 30, 2017 and June 30, 2017, respectively.

 

The activity and balances of finite-life intangible assets were approximately as follows:

 

   Three Months Ended
September 30, 2017		   Fiscal Year Ended June 30, 2017 
Balance, beginning  $721,000   $904,000 
Additions   7,000    68,000 
Abandonments   –    (133,000)
Amortization expense   (28,000)   (118,000)
Balance, ending  $700,000   $721,000