Other Assets

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



	December 31, 2016			June 30, 2016
Royalty rights	$	108,512		$	108,512
Less: Accumulated amortization of royalty rights	(13,564		)	(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	(42,370		)	(13,963		)
Other assets, net	$	330,300		$	365,489

The Company accounts for its investment in Well Lift Inc. using the cost method under which any return of capital reduces cost and any dividends paid are recorded as income. Investment value will be evaluated for impairment at least quarterly or 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.