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Other Assets | 12 Months Ended
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Jun. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Assets | Other Assets As of June 30, 2019 and June 30, 2018 our other assets consisted of the following:
| June 30, 2019 |  | June 30, 2018
Royalty rights | 108,512 |  |  | 108,512 |
Less: Accumulated amortization of royalty rights | (47,474 | ) |  | (33,910 | )
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 | (141,927 | ) |  | (126,771 | )
Software license | 20,662 |  |  | 20,662 |
Less: Accumulated amortization of software license | (7,462 | ) |  | (1,380 | )
Other assets, net | $ | 210,033 |  |  | $ | 244,835 |
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 in this private company at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer, if such were to occur. The Company evaluates the investment for impairment when it identifies any events or changes in circumstances that might have a significant adverse effect on the fair value of the investment.

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