XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Intangible Assets | 12 Months Ended
--- | ---
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | NOTE 11 – INTANGIBLE ASSETS Intangible assets consisted of the following:
|  | As of June 30, |  |  | As of June 30, |
|  | 2017 |  |  | 2016 |
Product Licenses - Cost |  | $ | 47,244,997 |  |  | $ | 47,244,997 |
Effect of Translation Adjustment |  |  | (3,134,488 | ) |  |  | (3,323,518 | )
Accumulated Amortization |  |  | (27,067,358 | ) |  |  | (24,247,446 | )
Net Balance |  | $ | 17,043,151 |  |  | $ | 19,674,033 |
(A) Product Licenses Product licenses include internally-developed original license issues, renewals, enhancements, copyrights, trademarks, and trade names. Product licenses are amortized on a straight-line basis over their respective lives, and the unamortized amount of $17,043,151 will be amortized over the next 6.75 years. Amortization expense for the years ended June 30, 2017 and 2016 was $2,776,473 and $2,765,018, respectively. (B) Future Amortization Estimated amortization expense of intangible assets over the next five years is as follows:
Year ended: |  |  |  |
June 30, 2018 |  |  | $ | 2,778,585 |
June 30, 2019 |  |  |  | 2,778,585 |
June 30, 2020 |  |  |  | 2,778,585 |
June 30, 2021 |  |  |  | 2,778,585 |
June 30, 2022 |  |  |  | 2,778,585 |
Thereafter |  |  |  | 3,150,226 |
|  |  | $ | 17,043,151 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration