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INTANGIBLE ASSETS
3 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 13 - INTANGIBLE ASSETS

 

Intangible assets consisted of the following:

 

   As of   As of 
   September 30, 2022   June 30, 2022 
         
Product Licenses - Cost  $47,244,997   $47,244,997 
Effect of Translation Adjustment   (21,828,001)   (19,914,206)
Accumulated Amortization   (24,306,379)   (25,743,121)
Net Balance  $1,110,617   $1,587,670 

 

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 $1,110,617 will be amortized over one year. Amortization expense for the three months ended September 30, 2022 and 2021 was $322,820 and $440,284, respectively.