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Other Assets | 6 Months Ended
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Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Assets | Other Assets As of December 31, 2015 and June 30, 2015 other assets consisted of the following:
| December 31, 2015 |  | June 30, 2015
Royalty rights | $ | 108,512 |  |  | $ | — |
Investment in Well Lift Inc., at cost | 108,750 |  |  | — |
Trademarks | — |  |  | 44,803 |
Patent costs | — |  |  | 538,276 |
Less: Accumulated amortization of patent costs | — |  |  | (47,063 | )
Deferred loan costs | 179,468 |  |  | 337,078 |
Less: Accumulated amortization of deferred loan costs | (171,375 | ) |  | (147,057 | )
Other assets, net | $ | 225,355 |  |  | $ | 726,037 |
During the quarter ended September 30, 2015, our plan to obtain a new expanded secured credit facility was postponed 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, $108,472 of deferred costs incurred for title work in the Delhi field was charged to capitalized costs of oil and gas properties. As discussed in Note 15, the Company is in discussions with the Lender to extend the maturity, renew the current unsecured Credit Agreement or seek a similar source of bank financing. As of December 31, 2015, there were $8,093 of unamortized deferred loan costs related to our existing unsecured credit facility. See Note 2 for discussion of transactions associated with the separation of our GARP® artificial lift technology operations. The company accounts for its investment in 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. There is no published market value for this private investment, so it is not practicable to value it at fair market value on a periodic basis.

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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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