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Intangible Assets

12 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 12 - INTANGIBLE ASSETS

Intangible assets consisted of the following:

		As of June 30,				As of June 30,
		2019				2018
Product Licenses - Cost		$	47,244,997			$	47,244,997
Effect of Translation Adjustment			(15,343,727	)			(7,857,270	)
Accumulated Amortization			(24,568,320	)			(27,140,531	)
Net Balance		$	7,332,950			$	12,247,196

(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 $7,332,950 will be amortized over the next 4.25 years. Amortization expense for the years ended June 30, 2019 and 2018 was $2,138,432 and $2,645,901, respectively.

(B) Future Amortization

Estimated amortization expense of intangible assets over the next five years is as follows:

Year ended:
June 30, 2020		$	1,783,775
June 30, 2021			1,783,775
June 30, 2022			1,783,775
June 30, 2023			1,783,775
June 30, 2024			197,850
		$	7,332,950

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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