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Intangible Assets
 3 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 3 - Intangible Assets

 

The intangibles consisted of the following as of September 30, 2024 and June 30, 2024:

 

   September 30, 2024   June 30, 2024 
Goodwill  $1,929,326   $1,929,326 
Trade name   796,100    796,100 
Accreditation   88,200    88,200 
Course curriculum   198,000    198,000 
Total cost of intangibles  $3,011,626   $3,011,626 
Less accumulated amortization   (28,606)   (27,353)
Intangibles net  $2,983,020   $2,984,273 

 

As of September 30, 2024 and June 30, 2024, no impairment of the Company’s goodwill, nor other intangibles with an indefinite life was required related to its previous acquisitions of CCC and Integrity. Although the ACCET accreditation has an indefinite life, the accreditation requires renewal every five years. CCC’s ACCET accreditation was most recently renewed in April 2020 and its next renewal is in April 2025. The Company recognized $1,253 in amortization expense for the three months ended September 30, 2024 and 2023. Although the Accrediting Bureau of Health Education Schools (“ABHES”) has an indefinite life, the accreditation requires renewal every five years. Integrity’s next ABHES accreditation renewal is in February 28, 2026. 100% of goodwill is expected to be deductible for federal income tax purposes and will be amortized over 15 years on a straight-line basis.