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Other Assets | 12 Months Ended
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Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Assets | Other Assets As of June 30, 2017 and 2016, our other assets consisted of the following:
| June 30, 2017 |  | June 30, 2016
Royalty rights | 108,512 |  |  | 108,512 |
Less: Accumulated amortization of royalty rights | (20,346 | ) |  | (6,782 | )
Investment in Well Lift Inc., at cost | 108,750 |  |  | 108,750 |
Deferred loan costs | 168,972 |  |  | 168,972 |
Less: Accumulated amortization of deferred loan costs | (70,504 | ) |  | (13,963 | )
Other assets, net | $ | 295,384 |  |  | $ | 365,489 |
For further details about our royalty rights and investment in Well Lift Inc. ("WLI"), see Note 7 – Restructuring. These assets were recorded in connection with the separation of our 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. Investment value is evaluated for impairment at least quarterly or when management identifies any events or changes in circumstances that may 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. In April 2016, we entered into a new secured credit facility, incurring $168,972 of deferred loan costs. Our previous credit facility had deferred loan costs of $179,468, which were fully amortized at its expiration in April 2016. During the year ended June 30, 2016, negotiations to obtain a new expanded secured credit facility from our previous lender were curtailed due to market conditions. We determined that $50,414 of deferred legal fees related to this 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 were charged to capitalized costs of oil and gas properties. Amortization of deferred loan costs related to our credit facilities for the years ended June 30, 2017, 2016 and 2015 was $56,541, $46,374 and $48,636, respectively.

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