Other Assets

As of March 31, 2016 and June 30, 2015, other assets consisted of the following:



	March 31, 2016			June 30, 2015
Royalty rights	$	108,512		$	—
Less: Accumulated amortization of royalty rights	(3,391		)	—
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	201,470			337,078
Less: Accumulated amortization of deferred loan costs	(179,468		)	(147,057		)
Other assets, net	$	235,873		$	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, $107,196 of deferred costs incurred for title work in the Delhi field was charged to capitalized costs of oil and gas properties. As of March 31, 2016, $179,468 of deferred loan costs related to our existing unsecured credit facility had been completely amortized. During the quarter ended March 31, 2016, the Company incurred $22,002 of deferred loan costs in connection with a new credit facility as discussed at Note 17.

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.