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Note 8 - Intangible Assets | 3 Months Ended
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Sep. 30, 2012
Intangible Assets Disclosure [Text Block] | NOTE 8 - INTANGIBLE ASSETS Intangible assets consisted of the following:
|  | As of September 30, 2012 |  |  | As of June 30, 2012 |
Product licenses |  | $ | 42,942,371 |  |  | $ | 42,072,045 |
Customer lists |  |  | 6,052,377 |  |  |  | 6,052,377 |
Technology |  |  | 242,702 |  |  |  | 242,702 |
|  |  | 49,237,450 |  |  |  | 48,367,124 |
Accumulated amortization |  |  | (20,464,584 | ) |  |  | (19,864,141 | )
Intangible assets, net |  | $ | 28,772,866 |  |  | $ | 28,502,983 |
(A) Product Licenses Product licenses include internally-developed original license issues, renewals, enhancements, copyrights, trademarks, and trade names. Product licenses include unamortized software development and enhancement costs of $19,390,935. Product licenses are being amortized on a straight-line basis over their respective lives, which is currently a weighted average of approximately 8 years. Amortization expense for the three months ended September 30, 2012 and 2011 was $503,406 and $326,562, respectively. (B) Customer Lists On October 4, 2011, the Company entered into an agreement to acquire a UK based company “Virtual Leasing Services Limited” through one of its subsidiaries. As a result of this acquisition, the Company recorded $248,320 of an existing customer list. Customer lists are being amortized based on a straight-line basis, which approximates the anticipated rate of attrition, which is currently a weighted average of approximately 5 years. Amortization expense for the three months ended September 30, 2012 and 2011 was $30,286 and $17,648, respectively. (C) Technology On October 4, 2011, the Company entered into an agreement to acquire a UK based company, Virtual Leasing Services Limited, through one of its subsidiaries. As a result of this acquisition, the Company recorded $242,702 of existing technology. Technology assets are being amortized on a straight-line basis over their respective lives, which is currently a weighted average of approximately 5 years. Amortization expense for the three months ended September 30, 2012 and 2011 was $12,353 and $Nil. (D) Future Amortization Estimated amortization expense of intangible assets over the next five years is as follows:
Year ended; |  |  |
September 30, 2013 |  |  | 2,063,192 |
September 30, 2014 |  |  | 1,864,121 |
September 30, 2015 |  |  | 1,424,106 |
September 30, 2016 |  |  | 1,042,202 |
September 30, 2017 |  |  | 794,023 |
Thereafter |  |  | 21,585,224 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 + Details
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