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Other Assets | 12 Months Ended
--- | ---
Jun. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Assets | Other Assets As of June 30, 2018 and June 30, 2017 our other assets consisted of the following:
| June 30, 2018 |  | June 30, 2017
Royalty rights | 108,512 |  |  | 108,512 |
Less: Accumulated amortization of royalty rights | (33,910 | ) |  | (20,346 | )
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 | (126,771 | ) |  | (70,504 | )
Software license | 20,662 |  |  | — |
Less: Accumulated amortization of software license | (1,380 | ) |  | — |
Other assets, net | $ | 244,835 |  |  | $ | 295,384 |
Our royalty rights and investment in Well Lift, Inc. ("WLI") resulted from the separation of our artificial lift technology operations in December 2015. We conveyed our patents and other intellectual property to WLI and retained a 5% royalty on future gross revenues associated the technology. We own 17.5% of the common stock of WLI and account for our investment under the cost method. Any dividends paid are recorded as income and any return of capital reduces our cost basis in the investment. Our investment in WLI 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. The Company has no contractual exposure to losses of WLI, nor does it have any obligation or agreement to provide additional funding or support to WLI if it is needed.

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