Other Assets

As of June 30, 2016 and June 30, 2015 our other assets consisted of the following:



	June 30, 2016			June 30, 2015
Royalty rights	108,512			—
Less: Accumulated amortization of royalty rights	(6,782		)	—
Investment in Well Lift Inc., at cost	108,750			—
Deferred loan costs	168,972			337,078
Less: Accumulated amortization of deferred loan costs	(13,963		)	(147,057		)
Trademarks	—			44,803
Patent costs	—			538,276
Less: Accumulated amortization of patent costs	—			(47,063		)
Other assets, net	$	365,489		$	726,037

During the year ended June 30, 2016, our previous negotiations to obtain a new expanded secured credit facility were curtailed due to market conditions. As a result, the Company determined that $50,414 of deferred legal fees related to the proposed facility were unlikely to be utilized and were charged to expense. In addition, $107,196 of deferred costs incurred for title work in the Delhi field was charged to capitalized costs of oil and gas properties. Our existing unsecured credit facility expired in April 2016 and its associated deferred loan costs of $179,468 had been completely amortized. Contemporaneous with that facility's expiration, we entered into a secured credit facility provided by another financial institution, incurring $168,972 of deferred loan costs. Total amortization of costs related to our credit facilities for the year ended June 30, 2016 was $46,374.

See Note 8 – Restructuring for discussion of transactions associated with the separation of our artificial lift technology operations.

The company accounts for its investment in Well Lift Inc. ("WLI") using the cost method under which any return of capital reduces cost and any dividends paid are recorded as income. This investment is considered a level 3 fair value measurement and its value will be evaluated for impairment periodically and when management identifies any events or changes in circumstances that might have a significant adverse effect on the fair value of the investment.