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NOTE 7 - OTHER INTANGIBLE ASSETS | 12 Months Ended
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Jun. 30, 2012
Goodwill and Intangible Assets Disclosure [Abstract] |
NOTE 7 - OTHER INTANGIBLE ASSETS | NOTE 7 - OTHER INTANGIBLE ASSETS Other intangible assets, net of accumulated amortization, at June 30, 2012 and 2011 are comprised of:
|  | As of June 30,
|  | 2012 |  | 2011
Capitalized software development costs |  | $ | 6,368,960 |  |  | $ | 6,368,960 |
Patents and copyrights |  |  | 4,100,511 |  |  |  | 4,030,579 |
Management agreement |  |  | 513,333 |  |  |  | 513,333 |
|  |  | 10,982,804 |  |  |  | 10,912,872 |
Less: Accumulated amortization |  |  | 7,147,625 |  |  |  | 6,594,561 |
|  | $ | 3,835,179 |  |  | $ | 4,318,311 |
Information related to the above intangible assets for the years ended June 30, 2012 and 2011 is as follows:
|  | 2012 |  | 2011
Balance – Beginning of Year |  | $ | 4,318,311 |  |  | $ | 4,291,419 |
Amounts capitalized |  |  | 146,163 |  |  |  | 715,801 |
Abandon patents written off |  |  | (76,231 | ) |  |  | (79,958 | )
Amortization |  |  | (553,064 | ) |  |  | (608,951 | )
Balance – End of Year |  | $ | 3,835,179 |  |  | $ | 4,318,311 |
Amortization of patents and copyrights for the years ended June 30, 2012 and 2011 amounted to $156,310 and $142,049, respectively. Amortization of capitalized software development costs for the years ended June 30, 2012 and 2011 was $360,087 and $448,569, respectively. Amortization of management agreement for the years ended June 30, 2012 and 2011 amounted to $36,667 and $18,333, respectively. The estimated amortization of patents and copyrights and capitalized software development costs for the five years ending June 30, 2017 and thereafter is as follows:
For the Years Ending June 30, |  | Total |  | Patents and Copyrights |  | Capitalized Software Development Costs |  | Management Agreement
| 2013 |  |  | $ | 496,776 |  |  | $ | 174,025 |  |  | $ | 286,084 |  |  | $ | 36,667 |
| 2014 |  |  |  | 449,502 |  |  |  | 190,159 |  |  |  | 222,676 |  |  |  | 36,667 |
| 2015 |  |  |  | 420,802 |  |  |  | 206,293 |  |  |  | 177,842 |  |  |  | 36,667 |
| 2016 |  |  |  | 439,926 |  |  |  | 221,848 |  |  |  | 181,411 |  |  |  | 36,667 |
| 2017 |  |  |  | 453,001 |  |  |  | 229,334 |  |  |  | 187,000 |  |  |  | 36,667 |
| Thereafter |  |  |  | 1,575,172 |  |  |  | 1,197,062 |  |  |  | 103,112 |  |  |  | 274,998 |
|  |  |  | $ | 3,835,179 |  |  | $ | 2,218,721 |  |  | $ | 1,158,125 |  |  | $ | 458,333 |
The weighted average amortization period for other intangible assets is 9.6 years and they have no expected residual value.

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