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Other Assets | 9 Months Ended
--- | ---
Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Assets | Other Assets As of March 31, 2017 and June 30, 2016, other assets consisted of the following:
| March 31, 2017 |  | June 30, 2016
Royalty rights | $ | 108,512 |  |  | $ | 108,512 |
Less: Accumulated amortization of royalty rights | (16,955 | ) |  | (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 | (56,437 | ) |  | (13,963 | )
Other assets, net | $ | 312,842 |  |  | $ | 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 is 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.

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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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