Gain from Sale of Discontinued Operations (Reprints and ePrints business line)

9 Months Ended

Mar. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Gain from Sale of Discontinued Operations (Reprints and ePrints business line)

Note 6. Gain from Sale of Discontinued Operations (Reprints and ePrints business line)

On June 30, 2017, we sold the intangible assets of our Reprints and ePrints business pursuant to an Asset Purchase Agreement dated June 20, 2017. The aggregate net consideration for the sale included earn-out payments of 45% of gross margin over the 30-month period subsequent to the closing date. We have made a policy election to record the contingent consideration when the consideration is determined to be realizable (each 6-month period ending subsequent to the closing date). Realizable contingent consideration amounted to $130,462 for the nine months ended March 31, 2019 and is recorded as a gain from the sale of discontinued operations.